Aldar Properties, Arabtec, Sarco: Persian 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.
Saudi Arabia’s Tadawul All Share Index (SASEIDX) tumbled 5.5 percent, the most since March 1. Dubai’s DFM General Index (DFMGI) rose 0.9 percent and Abu Dhabi’s ADX General Index (ADSMI) climbed 0.8 percent.
Aldar Properties PJSC (ALDAR) : Abu Dhabi’s biggest real- estate company reported a second-quarter profit of 127.3 million dirhams ($34.7 million) on rising rental income, land sales and the delivery of completed homes. The results, which followed a year-earlier loss, missed analysts’ estimates. The shares rose 1.6 percent to 1.28 dirhams.
Arabtec Holding Co. (ARTC) : The United Arab Emirates’ biggest construction company by market value said second- quarter profit dropped 74 percent to 28.97 million dirhams. The mean estimate of six analysts was for a profit of 44 million dirhams, according to data compiled by Bloomberg. The shares advanced 2.1 percent to 1.43 dirhams.
Saudi Arabian Refinery Co. (SARCO AB): The company investing in oil refineries and fuel distribution said its lawsuit against Abdullah & Saeed Bin Zaqer Co. will resume on Oct. 25. The shares tumbled 10 percent to 41.6 riyals.
-- Editor: Shaji Mathew
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