Bloomberg News

Persian Gulf Stocks: Aldar Properties and Barwa Real Estate

October 31, 2011

Oct. 31 (Bloomberg) -- Abu Dhabi’s ADX General Index fell 0.3 percent, the most since Oct. 17, to 2,501.43 at the 2 p.m. close in the emirate. Dubai’s DFM General Index dropped 0.6 percent and Qatar’s QE Index slipped 0.3 percent.

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

Aldar Properties PJSC (ALDAR UH) declined for the first time since Oct. 24, losing 0.9 percent to 1.06 dirhams. The Abu Dhabi-based developer announced plans to reduce its workforce by 24 percent.

Barwa Real Estate Co. (BRES QD) slid the most since Aug. 7, falling 3.2 percent to 29.9 riyals. Third-quarter profit at Qatar’s biggest property developer declined to 80.8 million riyals ($22 million) from 277.2 million riyals in the year- earlier period, according to financial statements compiled by Bloomberg.

--Editors: Claudia Maedler, Chris Peterson

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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