Bloomberg News

Persian Gulf Stocks: Al-Khodari, Emirates NBD, Saudi Chemical

October 12, 2011

Oct. 12 (Bloomberg) -- The DFM General Index retreated to the lowest since March 7, dropping 0.3 percent to 1,383.72 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index fell 0.2 percent, trimming its gain for the week to 1.7 percent.

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

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR AB) slumped to the lowest in almost seven months, losing 6.1 percent to 57.75 riyals. The Saudi Arabian contracting company posted a 48 percent decline in third-quarter profit.

Doha Bank QSC (DHBK QD) advanced to the highest since Sept. 18, rising 1.3 percent to 62.1 riyals. Qatar’s fifth-largest lender by market value reported a 10 percent jump in third- quarter profit to 308 million riyals ($84.5 million) after the market closed.

Emirates NBD PJSC (EMIRATES UH) declined to the lowest level since April 7, losing 4.3 percent to 3.58 dirhams. EFG- Hermes Holding SAE said the United Arab Emirates’ biggest bank by assets will pay for the acquisition of unprofitable Dubai Bank PJSC in cash.

Saudi Chemical Co. (SCCO AB) fell the most since March 1, sinking 6.1 percent to 38.2 riyals. The trader and manufacturer of pharmaceutical products said quarterly profit declined 14 percent to 46.7 million riyals as costs rose.

--Editors: Claudia Maedler, Shaji Mathew

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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