Bloomberg News

Persian Gulf Stocks: Al-Rajhi Bank and Alhokair Rallied

April 11, 2012

Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.3 percent, the most since April 3, at the 3.30 p.m. close in Riyadh. The measure tumbled 4.1 percent this week. The DFM General Index (DFMGI) fell 0.4 percent.

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

Al-Rajhi Bank (RJHI AB (RJHI)) surged the most since Jan. 7, rising 3.9 percent to 79.25 riyals. Saudi Arabia’s biggest publicly traded lender said first-quarter profit surged 18 percent to 2 billion riyals ($533 million), beating analysts’ estimates.

Fawaz Abdulaziz Alhokair & Co. (ALHOKAIR) jumped 2.6 percent, the first gain since April 8, to 78 riyals. The Saudi Arabian clothing retailer said fourth-quarter net income advanced 58 percent to 87.3 million riyals.

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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