Bloomberg News

Persian Gulf Stocks: Aldar Properties and Bank of Sharjah Gain

December 28, 2011

Dec. 28 (Bloomberg) -- Dubai’s DFM General Index rose 1.2 percent, the most since Dec. 4, to 1,335.56 at 12:28 p.m. in the emirate, trimming this year’s decline to 18 percent. Abu Dhabi’s ADX General Index gained 0.4 percent.

The following shares were active in the Persian Gulf region. Stock symbols follow company names.

Aldar Properties PJSC (ALDAR UH) headed for the biggest gain since Oct. 30, rising 2.5 percent to 83 fils. The board of Abu Dhabi’s biggest developer by market value plans to meet today to discuss the possible sale of assets.

Bank of Sharjah (BOS UH) advanced 4.2 percent to 1.99 dirhams, the highest intraday level since March 2010. The United Arab Emirates bank bought back 3.68 million shares yesterday and has regulatory approval to purchase a further 96 million shares, it said in a statement to the Abu Dhabi bourse today.

--Editors: Shanthy Nambiar, Claudia Maedler

To contact the reporters on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net; Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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