Bloomberg News

Persian Gulf Stocks: Doha Bank of Qatar, National Bank of Kuwait

July 19, 2012

Kuwait’s benchmark stock index retreated 0.4 percent to 5,813.62, the lowest since June 28, at the close in Kuwait. The measure has declined 0.8 percent this week. Qatar’s QE Index fell 0.6 percent today.

The following shares are active in the Persian Gulf region. Stock symbols are in parentheses.

Doha Bank QSC (DHBK) lost 2.6 percent, the most since May 20, to 56.50 riyals. The Qatari lender was lowered to market perform from accumulate at QNB Financial Services.

National Bank of Kuwait (NBK KK) plunged 5.7 percent, the most since November 2009, to 1,000 fils. Kuwait’s biggest lender reported a 40 percent drop in second-quarter profit to 39.8 million dinars ($141 million.) The mean estimate of four analysts was for a profit of 81.5 million dinars, according to data compiled by Bloomberg.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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