Persian Gulf Stocks: Aldar, Dar Al Arkan, Oman International
October 09, 2011, 10:28 AM EDTBy Zahra Hankir
Oct. 9 (Bloomberg) -- The DFM General Index rose for a second day, gaining 0.2 percent at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index also advanced 0.2 percent and Oman’s gauge gained 0.5 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Agility (AGLTY KK) surged to the highest level since June, gaining 6.9 percent to 385 fils. The Kuwaiti storage and transport company may post better financial results in the third quarter compared with the first and second quarters, Al-Anba reported. Agility has been approached about possibly competing for a contract to supply logistics for a Canadian base in Kuwait, the newspaper said. The shares are up 26 percent the past four trading days.
Aldar Properties PJSC (ALDAR UH) advanced for a second day, rising 0.9 percent to 1.12 dirhams. The Abu Dhabi developer that has had three chief executive officers in four years said Chief Financial Officer Shafqat Ali Malik resigned. Separately, the company awarded a contract to Six Construct to build a mall on Yas Island.
Dar Al Arkan Real Estate Development Co. (ALARKAN AB) rallied the most since Sept. 4, gaining 3.3 percent to 6.35 riyals. Saudi Arabia’s biggest property company by assets said it will receive 4 billion riyals ($1.1 billion) from the Public Investment Fund to finance a Jeddah project.
Oman International Bank SAOG (OIBB OM) rose the most since February 2009, surging 7.1 percent to 0.285 rial. The country’s fifth-biggest bank by assets said it’s in talks about a merger of its business with the Oman operations of HSBC Holdings Plc.
Shuaa Capital PSC (SHUAA UH) retreated for the first time in three days, falling 2.9 percent to 77.7 fils. The investment bank controlled by Dubai’s ruler named former Credit Suisse Group AG board member Michael Philipp as chief executive officer, replacing Sameer Al Ansari. The bank’s head of brokerage and research Walid Shihabi also left the company.
--Editors: Claudia Maedler, Susan Lerner
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
