Bloomberg News

Persian Gulf Stocks: Shuaa Capital and Kuwait International Bank

November 20, 2011

Nov. 20 (Bloomberg) -- Abu Dhabi’s ADX General Index fell the most since Oct. 17, retreating 0.5 percent to 2,461.17 at the 2 p.m. close in the emirate. Dubai’s DFM General Index decreased 0.9 percent.

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

Kuwait International Bank (KIB KK), the Persian Gulf country’s smallest lender by market value, slumped to the lowest since Sept. 5, decreasing 1.9 percent to 260 fils. The company’s board accepted the resignation of Chief Executive Officer Mahmoud Abul Eyoun.

Shuaa Capital PSC (SHUAA UH) sank to the lowest in more than eight years, dropping 7.4 percent to 69 fils. The investment bank controlled by Dubai’s ruler said it had a third- quarter loss after making valuation adjustments and booking provisions.

--Editor: Inal Ersan

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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