Bloomberg News

Persian Gulf Stocks: Arab National Bank and Dar Al Arkan

October 10, 2011

Oct. 10 (Bloomberg) -- The DFM General Index retreated the most since Oct. 4, dropping 0.6 percent at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index decreased less than 0.1 percent, while Saudi Arabia’s Tadawl All Share Index gained 0.6 percent.

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

Arab National Bank (ARNB AB) rose the most in more than three weeks, gaining 1.5 percent to 27 riyals. Saudi Arabia’s sixth-largest bank by market value may say this week profit almost doubled to 670 million riyals ($179 million), according to the median estimate of four analysts in data compiled by Bloomberg.

Dar Al Arkan Real Estate Development Co. (ALARKAN AB) advanced to the highest since Sept. 18, rising 0.8 percent to 6.4 riyals. Saudi Arabia’s biggest property company by assets said it would seek 2 billion riyals from commercial banks and other entities to develop the Qasr Khozam project.

--Editors: Claudia Maedler, Peter Branton

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


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