Bloomberg News

Persian Gulf Stocks: Drake & Scull, Kuwait Portland Cement Co.

November 13, 2011

Nov. 13 (Bloomberg) -- Dubai’s DFM General Index rose 0.7 percent, the most since Oct. 30, to 1,392.71 as of the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index climbed 0.6 percent.

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

Drake & Scull International PJSC (DSI UH) advanced to the highest since Sept. 22, gaining 1.7 percent to 84 fils. The Dubai-based construction company reported a 71 percent jump in third-quarter profit. Net income attributable to shareholders advanced to 58 million dirhams ($15.8 million) from 34 million dirhams a year earlier.

Kuwait Portland Cement Co. (PCEM KK) slumped to the lowest in more than a year, losing 2.9 percent to 990 fils. The building-materials trader said it had a third-quarter loss of 597,542 dinars ($2.16 million) after a profit of 5.8 million dinars a year earlier.

--Editors: John Buckley, Raj Rajendran

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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