Bloomberg News

Persian Gulf Stocks: DP World and First Gulf Bank Gained

October 25, 2011

Oct. 25 (Bloomberg) -- Abu Dhabi’s ADX General Index advanced 0.2 percent to 2,450.61, the highest since Oct. 17, at the 2 p.m. close in the emirate. Qatar’s QE Index fell less than 0.1 percent and Dubai’s DFM General Index dropped 0.5 percent.

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

DP World Ltd. (DPW DU) advanced the most in two weeks, rising 0.9 percent to $10.70. The Dubai World-owned ports operator said it expects full-year gross profit to be in line with expectations after a 10 percent rise in container volume during the third quarter.

First Gulf Bank PJSC (FGB UH) climbed the most in more than two months, jumping 2.8 percent to 14.65 dirhams. The United Arab Emirates lender controlled by Abu Dhabi’s ruling family reported an 8 percent rise in third-quarter profit to 920 million dirhams ($250 million), beating estimates.

--Editors: Claudia Maedler, Inal Ersan

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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