Persian Gulf Stocks: Emirates Telecommunications, DP World
February 12, 2012, 8:42 PM ESTBy Mourad Haroutunian
Feb. 12 (Bloomberg) -- Abu Dhabi’s ADX General Index fell 0.4 percent to 2,457.18, the lowest intraday level since Feb. 1, at 11:34 a.m. in the emirate. Qatar’s QE Index retreated 0.3 percent.
The following shares were active in the Persian Gulf region. Stock symbols follow company names.
Emirates Telecommunications Co. (ETISALAT UH) dropped 2.1 percent, the most since Jan. 17, to 9.25 dirhams. The Middle East’s biggest telephone operator by market value said full-year net income declined to 5.84 billion dirhams ($1.6 billion) from 7.63 billion dirhams a year earlier, missing analysts’ estimates.
DP World Ltd. (DPW DU) lost 1.4 percent to $10.85, the lowest intraday level since Feb. 8. The world’s fourth-biggest port operator started talks with banks for a loan to help pay half of a $3 billion credit facility maturing in October, a banker familiar with the discussions said.
--Editors: Claudia Maedler, Inal Ersan
To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
