Bloomberg News

Persian Gulf Stocks: Arabtec and Union National Bank Are Active

February 07, 2012

Feb. 7 (Bloomberg) -- Dubai’s DFM General Index gained for a third day, rising 0.3 percent to 1,480.32 at 11:13 a.m. in the emirate. Abu Dhabi’s ADX General Index dropped 0.1 percent.

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

Arabtec Holding PJSC (ARTC UH) headed for the highest close since October 2009, soaring 7.3 percent to 2.79 dirhams, amid investor bets the United Arab Emirates’ biggest construction company will benefit from regional infrastructure spending.

Union National Bank PJSC (UNB UH) declined 6.6 percent to 2.96 dirhams, poised for the biggest drop since December 2009. The company whose shareholders include the governments of Abu Dhabi and Dubai posted a full-year profit that missed analysts’ estimates.

--Editors: Susan Lerner, Claudia Maedler

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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