Bloomberg News

Persian Gulf Stocks: National Bank of Abu Dhabi and QIIB Moved

January 23, 2012

Jan. 23 (Bloomberg) -- Dubai’s shares rose to the highest in almost three weeks, gaining 0.5 percent to 1,340.70 at the 2 p.m. close in the emirate. Qatar’s QE Index declined 0.4 percent.

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

National Bank of Abu Dhabi PJSC (NBAD UH) advanced the most this year, gaining 2.4 percent to 10.7 dirhams. The United Arab Emirates’ second-biggest bank by assets known as NBAD appointed Michael Aissaoui as head of mergers and acquisitions.

Qatar International Islamic Bank (QIIK QD) slumped to the lowest since Sept. 14, dropping 1.7 percent to 51.6 riyals. The country’s third-largest Islamic bank by assets proposed a 3.5 riyal dividend for 2011 compared with 3.75 riyals the year earlier.

--Editors: Claudia Maedler, Susan Lerner

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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