ADCB, Gulf Navigation, Qatar Electricity: Gulf Equity Preview
The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.
Abu Dhabi Commercial Bank PJSC (ADCB) : The United Arab Emirates’ third-largest bank by assets may sell its 25 percent stake in Malaysia’s RHB Capital Bhd. to Abu Dhabi Investment Council, the Star reported, citing an unidentified person. The shares rose 1.4 percent to 2.91 dirhams.
Al Khaliji (KCBK) : The Qatari lender’s board will meet to discuss merging with International Bank of Qatar. The shares increased 0.6 percent to 18 riyals.
DP World Ltd. (DPW) : The Dubai World-controlled company will start trading on the London Stock Exchange today as it seeks to attract investors after low trading volumes in its home market. The shares rose 0.4 percent to $13.45 in Dubai.
Gulf Navigation Holding (GULFNAV) : Dubai’s only publicly traded oil-tanker owner was cut to “sell” from “neutral” at EFG-Hermes Holding SAE with a share-price estimate of 34 fils. The stock increased 2.2 percent to 38 fils.
Qatar Electricity & Water Co. (QEWS) : The third-largest publicly traded utility in the Middle East by revenue has joined with Marubeni Corp. to bid for the construction of the Sur power plant in Oman. The shares rallied 1.7 percent to 148 riyals.
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