Bloomberg News

Persian Gulf Stocks: Arabtec Holding and Emaar Properties Moved

May 03, 2012

The DFM General Index (DFMGI) fell 0.9 percent to 1,582.09, the lowest level since Feb. 20, at the 2 p.m. close in the emirate. The measure fell 4.2 percent this week. Abu Dhabi’s ADX General Index (ADSMI) declined 0.2 percent today.

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

Arabtec Holding Co. (ARTC) fell for a second day, dropping 0.9 percent to 3.44 dirhams. The United Arab Emirates’ biggest construction company said its board will meet May 8 to elect a chairman and vice chairman.

Emaar Properties PJSC (EMAAR) retreated to the lowest level in a month, dropping 1.3 percent to 3.11 dirhams. The company plans to start building two residential developments in Dubai near the world’s tallest skyscraper, MEED magazine reported May 2, citing industry sources it didn’t identify.

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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