Bloomberg News

Persian Gulf Stocks: Aldar Properties, Burgan Bank, Sorouh

March 15, 2012

Dubai’s DFM General Index (DFMGI) lost 0.5 percent to 1,683.41 at the 2 p.m. close in the emirate, trimming the advance this week to 4.5 percent. Kuwait’s measure gained 0.6 percent.

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

Aldar Properties PJSC (ALDAR) tumbled 3.5 percent, the most since March 7, to 1.40 dirhams amid investor bets the past week’s rally after the Abu Dhabi real-estate developer said it may merge with Sorouh Real Estate Co. (SOROUH) may be overdone. Sorouh plunged 4.1 prevent to 1.39 dirhams.

Burgan Bank KK (BURG) fell for a third day, dropping 1.2 percent to 430 fils. The Kuwaiti bank said it may buy an “influential” stake in an unidentified Maltese lender.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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