Persian Gulf Equity Movers: Saudi British, Emaar, TabreedClaudia Maedler
Dubai’s DFM General Index declines 0.4% to 1,956.02 at close in the emirate as 12 stocks drop, 9 gain and 10 are unchanged; Abu Dhabi ADX General Index +0.9%; Saudi Arabia’s Tadawul +0.7%.
ADVANCERS: * Saudi British Bank (SABB AB) +4.1% to highest since May; 1Q net 948m riyals vs 854m; mean est. of 8 analysts 862m * Saudi Hollandi Bank (AAAL AB) +3.8%, most since July; 1Q net 346.3m riyals vs 290.1m; mean est. of 6 analysts 319m * Arab National Bank (ARNB AB) +2.2%; 1Q net 678.7m riyals vs 655.5m; mean est. of 5 analysts 614m * Bank Albilad (ALBI AB) -4.9%, most since April, 2012; 1Q net 142.5m riyals vs 511.5m * Ahli United Bank (ALMUTAHE KK) +2.7%; rating raised one level to A2 at Moody’s * Sharjah Islamic Bank (NBS UH) +4.2%; raises $500m from sale of five-year Islamic bonds that pay a profit rate of 2.95% * Aviation Lease (ALAFCO KK) +3%; hires Deutsche Bank to study foreign listing * Tabreed (TABREED UH) +3.3%; climbs most since March 10 * Dubai Investments (DIC UH) +7.8%; surges to highest since Nov.
DECLINERS: * Emaar (EMAAR UH) -1.8%; shareholders approve board’s recommendation of 10 fils/shr DVD * Tamweel (TAMWEEL UH) -2.5%; 1Q net 20.5m dirhams, misses EFG-Hermes profit est. of 24m: data compiled by Bloomberg