Bloomberg News

Persian Gulf Stocks: Aldar Properties, United Development

December 29, 2011

Dec. 29 (Bloomberg) -- Abu Dhabi’s benchmark ADX General Index climbed 1.5 percent, the most since May 2010, to 2,402.28 at the 2:00 p.m. close in the emirate, trimming its losses this year to 12 percent. Qatar’s QE Index fell 0.4 percent.

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

Aldar Properties PJSC (ALDAR UH) jumped 9.5 percent, the most since Dec. 2009, to 92 fils. Abu Dhabi’s government agreed to buy assets valued at 16.8 billion dirhams ($4.57 billion) from the real-estate developer.

United Development Co. (UDCD QD) slumped 10 percent, the most since Sept. 2008, to 24.84 riyals after Qatar’s pension fund offered to buy a stake below its trading value.

--Editors: Shaji Mathew, Shanthy Nambiar

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To contact the reporter on this story: Alaa Shahine in Dubai at

To contact the editor responsible for this story: Claudia Maedler at -0- Dec/29/2011 10:31 GMT

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