Bloomberg News

Persian Gulf Stocks: Dana Gas, Industries Qatar and Sabic

February 20, 2012

Feb. 20 (Bloomberg) -- Abu Dhabi’s ADX General Index advanced 0.6 percent to 2,504.17, the highest since Oct. 30, at the 2 p.m. close in the emirate. Dubai’s DFM General Index slipped 0.1 percent after surging 3.6 percent yesterday. Saudi Arabia’s Tadawul All Share Index jumped 0.5 percent to 6,904.38, the highest since May 2010.

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

Dana Gas PJSC (DANA UH) climbed for a second day, rising 4.3 percent to 49 fils, the highest since Dec. 19. The producer of oil and gas yesterday said the board will consider a revised 2012 budget at a meeting this week.

Industries Qatar QSC (IQCD QD), the Middle East’s second- biggest petrochemicals company, rose the most since Feb. 2, advancing 1.3 percent to 134.7 riyals. Saudi Basic Industries Corp. (SABIC AB), the world’s biggest petrochemicals maker, gained 1.6 percent to 96.5 riyals, the highest since Jan. 3. Crude for March delivery rallied as much as 2.1 percent to $105.44 a barrel on the New York Mercantile Exchange.

--Editors: Claudia Maedler, Shaji Mathew

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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