Bloomberg News

Persian Gulf Stocks: Al-Mojil, Tabuk Cement, Tamweel, Zoujaj

April 16, 2012

The DFM General Index (DFMGI) fell 1.6 percent, the most since March 29, to 1,649.25 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) declined 0.5 percent and Saudi Arabia’s Tadawul All Share Index (SASEIDX) retreated 1 percent.

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

Qatar International Islamic Bank (QIIK) fell the most since March 7, losing 1.2 percent to 50.9 riyals. The company may sell Islamic bonds this year, the chief executive officer said.

Mohammad Al-Mojil Group Co. (MMG) advanced 2 percent, the biggest gain in a week, to 15.05 riyals. The Saudi Arabian construction services provider said its board decided to hire a bank to advise on restructuring its debt.

National Company for Glass Industries (ZOUJAJ AB) fell 2.6 percent, the most since April 10, to 37.6 riyals. The Saudi maker of bottles and jars known as Zoujaj said first-quarter profit fell 29 percent to 17.7 million riyals ($4.7 million).

Tabuk Cement Co. (TACCO) gained the most since March 25, rising 1.6 percent to 25.5 riyals. The manufacturer of the building material said first-quarter profit rose to 49.2 million riyals from 41.2 million riyals a year earlier.

Tamweel PJSC (TAMWEEL) declined the most in a week, falling 2.8 percent to 1.39 dirhams. The United Arab Emirates mortgage lender said it may consider tapping the debt market again this year after raising $300 million from the sale of Islamic bonds in January.

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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