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Sat 14 Aug 2010 07:24 PM

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Gulf equity preview of top companies

A preview of the top companies' future stock value in Gulf Arab markets.

Gulf equity preview of top companies
RISE OR FALL: What the future holds for the stock values of the top companies in Gulf Arab Markets (Getty Images)

The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

The DFM General Index slid 0.7 percent to 1,472.09, the lowest since July 4 at the close in the emirate. Qatar’s QE Index fell 0.6 percent and Kuwait’s gauge declined 0.1 percent. Saudi Arabia’s Tadawul All Share Index lost 1.1 percent.

Commercial Facilities Co (FACIL KK): The Kuwaiti consumer finance company said second quarter profit slumped 49 percent to $16.3 million. The shares were unchanged at 310 fils.

Deyaar Development (DEYAAR UH): The property developer part owned by Dubai Islamic Bank PJSC had a loss of $66 million in the second quarter. That compares with a profit of $20.79 million a year ago, according to Bloomberg data. The shares gained 0.3 percent to 30.7 fils.

Global Investment House KSCC (GLOBAL KK): The Kuwait based bank said its first half loss narrowed to $114.91 million from $342.28 million a year earlier. The shares fell 1.5 percent to 64 fils.

Jazeera Airways (JAZEERA KK): The Kuwait based low cost airline said its second quarter loss widened to $16.4 million from $4.51 million in the year earlier period. The shares were unchanged at 110 fils, when they last traded on Aug. 10.

Saudi Kayan Petrochemical Co (KAYAN AB): The Saudi petrochemicals maker got a $1.2 billion loan from National Commercial Bank, to finance part of the cost of its Jubail petrochemicals plant. The Shares declined 1.5 percent to $4.54. The seven year loan is guaranteed by Saudi Basic Industries Corp. (SABIC AB), which holds a 35 percent stake in Kayan. Sabic’s shares retreated 0.3 percent to 85.75 riyals.

Union Properties PJSC (UPP UH): The Dubai based real estate developer said its second quarter loss widened to $95.12 million from $62.07 million a year ago. The shares gained 0.8 percent to 36.9 fils.

United Gulf Bank BSC (UGB BI): The Bahrain based investment bank said second quarter profit rose to $24.3 million from $5.6 million the year earlier. The shares were unchanged at $0.94 when they last traded on Aug. 5.

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