Bloomberg News

Persian Gulf Stocks: Al-Khodari Sons and United Development

January 02, 2012

Jan. 2 (Bloomberg) -- Abu Dhabi’s benchmark ADX General Index fell 0.2 percent, the most since Dec. 21, to 2,396.98 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index gained 0.2 percent.

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

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR AB) climbed as much as 2.4 percent to 53.75 riyals before trimming gains to close at 53 riyals. The Saudi Arabian contracting company said it signed a 70 million-riyal ($19 million) contract with the government.

United Development Co. (UDCD QD) tumbled to the lowest level since Dec. 8, sliding 6.8 percent to 22.81 riyals. Qatar’s pension fund last week offered to buy a stake in the investment company for less than its trading price. The shares have declined 16 percent since the Dec. 29 announcement.

--Editors: Susan Lerner, Claudia Maedler

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


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