Bloomberg News

Persian Gulf Stocks: Arabtec and Shuaa Capital Were Active

May 06, 2012

The DFM General Index (DFMGI) fell 1.4 percent to 1,560.28, the lowest since Feb. 16, at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) declined 0.3 percent.

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

Arabtec Holding Co. (ARTC) rose 1.7 percent to 3.5 dirhams, the highest since April 26. A group including the United Arab Emirates’ biggest construction company, TAV Insaat and Consolidated Contractors Co. is the preferred bidder for the construction of the new terminal building at Abu Dhabi airport.

Shuaa Capital PSC (SHUAA) slumped 6.2 percent, the most since March 6, to 74.1 fils. The board of the investment bank controlled by Dubai’s ruler is meeting today to discuss financial results.

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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