Bloomberg News

Persian Gulf Stocks: Dubai’s Du and Abu Dhabi’s Taqa Were Active

May 10, 2012

The DFM General Index (DFMGI) fell to the lowest in almost three months, dropping 0.8 percent to 1,515.02 at the 2 p.m. close in Dubai. The measure dropped 4.2 percent this week. Abu Dhabi’s ADX General Index (ADSMI) decreased 0.1 percent.

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

Emirates Integrated Telecommunications Co. (DU) advanced the most since April 24, rising 1.6 percent to 3.13 dirhams. The company known as Du said first-quarter net profit before royalty surged 61.8 percent to 666 million dirhams ($181 million) as revenues from mobile and data services grew.

Abu Dhabi National Energy Co. (TAQA UH) rose to the highest in more than a week, gaining 0.8 percent to 1.21 dirhams. The state-run company known as Taqa said first-quarter profit more than tripled after it sold assets in Canada.

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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