Emirates NBD, Bank Dhofar, Qatar Navigation: 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.
Emirates NBD PJSC (EMIRATES) : The United Arab Emirates’ biggest bank by assets reported an 85 percent jump in second- quarter profit to 744 million dirhams ($203 million) as investment income increased and loan loss charges dropped. Profit fell short of estimates. The shares fell 2.4 percent to 4.10 dirhams.
Bank Dhofar SAOG (BKDB) : Oman’s second-largest bank by market value said the Primary Court in Muscat ruled in its favor in a case filed by Oman International Bank and others. The shares fell 1.9 percent to 0.556 rials.
Grand Real Estate Projects (GRAND KK): The Kuwaiti real- estate developer hired a consultant to restructure capital and said its losses exceeded 75 percent of capital at the end of March. The shares were unchanged at 17.5 fils.
Qatar Navigation (QNNS) : The Qatari freight transporter said first-half profit fell by more than a half to 418 million riyals ($115 million) after a one-time non-cash accounting adjustment. The shares dropped 0.4 percent to 79.3 riyals.
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