Bloomberg News

Persian Gulf Stocks: Al-Ahli Bank of Kuwait, Dubai Islamic Bank

February 01, 2012

Feb. 1 (Bloomberg) -- Abu Dhabi’s ADX General Index advanced 0.5 percent to 2,466.06, the highest since Dec. 5, at the 2 p.m. close in the emirate. Dubai’s DFM General Index gained 1.2 percent.

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

Al-Ahli Bank of Kuwait (ABK KK) fell the most since Jan. 23, declining 1.5 percent to 670 fils. The Kuwaiti lender posted a 5 percent decline in 2011 profit to 50.3 million dinars ($181 million).

Dubai Islamic Bank PJSC (DIB UH) rallied the most since October 2010, jumping 4.3 percent to 2.19 dirhams. The United Arab Emirates’ biggest bank complying with Shariah rules may post a 25 percent increase in 2011 profit to 1 billion dirhams ($272 million), according to the median estimate of four analysts on Bloomberg.

--Editors: Shanthy Nambiar, Tim Farrand

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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