Bloomberg News

Persian Gulf Stocks: Mazaya Qatar and Qatar Islamic Insurance

April 19, 2012

The DFM General Index (DFMGI) fell 0.3 percent to 1,638.25, the lowest since March 8, at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) decreased 0.5 percent and Qatar’s measure fell 0.9 percent. Saudi Arabia (SABIC)’s market was closed for the weekend.

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

Mazaya Qatar Real Estate (MRDS) Development Co. (MRDS QD) fell for the first time in four days, decreasing 1.1 percent to 10.4 riyals. The company that sold shares on the Qatar Exchange in 2010 plans to raise as much as $140 million of Shariah-compliant financing from banks within two months, Chief Executive Officer Seraj Al Baker said.

Qatar Islamic Insurance Co. (QISI) dropped the most since March 6, retreating 3.6 percent to 53.5 riyals. The company that offers non-life insurance said first-quarter profit fell to 16.4 million riyals ($4.5 million) from 22.2 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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