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

-0- Dec/29/2011 10:40 GMT

-0- Dec/29/2011 10:48 GMT

-0- Dec/29/2011 12:43 GMT

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus