Bloomberg News

Persian Gulf Stocks: Almarai in Saudi Arabia and Emirates NBD

December 07, 2011

Dec. 7 (Bloomberg) -- Saudi Arabia’s Tadawul All Share Index advanced 0.6 percent to 6,251.92, the highest since Nov. 13, at the 3:30 p.m. close in Riyadh. The measure rose 2.4 percent this week. Dubai’s DFM General Index increased 0.2 percent while Abu Dhabi’s ADX General Index declined 0.3 percent.

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

Almarai Co. (ALMARAI AB) surged to the highest since July 9, rising 4.9 percent to 96.50 riyals. The Saudi dairy and food- processing company recommended paying a dividend of 2.25 riyals a share this year and a bonus share for every 1.739 shares held.

Emirates NBD PJSC (EMIRATES UH) dropped the most in more than a week, falling 1.5 percent to 3.25 dirhams. Goldman Sachs Group Inc. said the United Arab Emirates’ biggest bank by assets may be required to set aside as much as 8 billion dirhams ($2.2 billion) by the end of 2013 to cover bad loans.

--Editors: Claudia Maedler, Ash Kumar

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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