Bloomberg News

Persian Gulf Stocks: Dana Gas and Jabal Omar Development

January 24, 2012

Jan. 24 (Bloomberg) -- Dubai’s shares rose to the highest in more than a month, gaining 1.7 percent to 1,364.03 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index advanced 0.1 percent, while Qatar’s QE Index declined 0.3 percent.

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

Dana Gas PJSC (DANA UH) advanced 2.6 percent to 39 fils, the highest since Jan. 12. The United Arab Emirates-based energy company may restructure its $1 billion Islamic bond maturing in October, Bank of America Corp. said.

Jabal Omar Development Co. (JOMAR AB) climbed to the highest since Dec. 26, rising 0.8 percent to 12.45 riyals. The Saudi Arabian property company said it will pay a 350 million- riyal ($93 million) bridge loan to Al Rajhi Bank (RJHI AB). Al Rajhi shares were unchanged.

--Editors: Claudia Maedler, Daliah Merzaban

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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