Bloomberg News

Persian Gulf Stocks: Arabtec, Industries Qatar, Saudi Basic

May 14, 2012

The DFM General Index (DFMGI) retreated for a fifth day, declining 0.4 percent to 1,481.95 at the close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) was little changed. Saudi Arabia’s Tadawul All Share Index dropped 1.6 percent.

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

Arabtec Holding Co. (ARTC) rose 4.7 percent, the biggest gain since April 24, to 2.91 dirhams. Aabar Investments PJSC, an Abu Dhabi government controlled company, raised its stake in the Dubai builder through its units to more than 20 percent.

Industries Qatar QSC (IQCD) , the Middle East’s second- biggest petrochemicals company, fell to the lowest in almost a month, losing 1.7 percent to 139.5 riyals. Saudi Basic Industries Corp. (SABIC) , the world’s largest petrochemicals maker, decreased 1.8 percent to 96.5 riyals. Crude for June delivery declined as much as 2.6 percent to $93.65 a barrel on the New York Mercantile Exchange.

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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