Bloomberg News

Persian Gulf Stocks: Arabtec in Dubai and Yamamah Cement

April 03, 2012

Saudi Arabia’s Tadawul All Share Index (SASEIDX) climbed 0.3 percent to 7,930.58 at the 3:30 p.m. close in Riyadh, its fifth day of gains. The DFM General Index (DFMGI) advanced 2.4 percent.

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

Arabtec Holding Co. (ARTC) , the United Arab Emirates’ biggest construction company, surged the most in more than three years, soaring 15 percent to 3.45 dirhams. Abu Dhabi’s state- owned Aabar Investments PJSC (AABAR) boosted its stake in the Dubai builder to 10.45 percent.

Yamamah Cement Co. (YACCO) climbed 2 percent to 51 riyals, the highest close since March 18. The Saudi Arabian maker of the building material said its estimated first-quarter profit advanced 54 percent from a year earlier to 278 million riyals ($74 million) on higher sales.

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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