Bloomberg News

Persian Gulf Stocks: Bank Dhofar in Oman, Drake & Scull, NBAD

March 13, 2012

Abu Dhabi’s ADX General Index (ADSMI) advanced for a fourth day, gaining 0.3 percent to 2,623.02, the highest since March 5 at the 2 p.m. close in the emirate. The DFM General Index (DFMGI) rose 0.9 percent.

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

Bank Dhofar SAOG (BKDB) surged the most in more than 11 years, rallying 9.9 percent to 0.597 rial. The lender said the Appeals Court ruled the bank didn’t need to transfer 26.1 million rials ($68 million) to the Enforcement Court’s account. Dhofar International Development & Investment Holding Co. (DIDI) , which according to data compiled by Bloomberg owns a 27.5 percent stake in the bank, surged 8.2 percent.

Drake & Scull International PJSC (DSI) climbed to the highest in a week, increasing 3 percent to 1.03 dirhams. The Dubai-based construction company said a unit won an 845 million- dirham ($230 million) contract in Algeria.

National Bank of Abu Dhabi PJSC (NBAD UH) rallied 2.6 percent to 11.95 dirhams, the highest close since September 2008. Shareholders of the United Arab Emirates’ second-biggest bank are meeting today.

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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