Persian Gulf Stocks: Bank Al-Jazira, Damas, Qatar National Bank
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Bank Al-Jazira (BJAZ) surged to the highest in almost six months, gaining 0.6 percent to 17.7 riyals. The Saudi lender posted a fourth-quarter profit of 110 million riyals ($29 million) after a loss of 27 million the year earlier.
Damas International Ltd. (DAMAS) soared to the highest in more than two years, jumping 14 percent to 40 cents. Qatar’s Mannai Corp. (MCCS) said it is considering a cash bid for the Dubai jewelry retailer.
Qatar National Bank SAQ (QNBK) advanced the most since Oct. 23, gaining 1.7 percent to 147.5 riyals after slumping 5.2 percent yesterday. The Persian Gulf country’s largest bank by assets is the last serious bidder for Turkey’s Denizbank AS (DENIZ) after the withdrawal of HSBC Holdings Plc (HSBA) and OAO Sberbank (SBER), people familiar with the process said.
Tamweel PJSC (TAMWEEL) snapped a five-day drop, rising 1.6 percent to 56.9 fils. The Dubai-based Islamic mortgage company is selling $300 million of bonds due in January 2017, a banker with knowledge of the plan said.
To contact the reporter on this story: Zahra Hankir in Dubai at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org