Bloomberg News

Persian Gulf Stocks: Drake & Scull, Renaissance Services, UPP

May 15, 2012

The DFM General Index (DFMGI) snapped a five- day retreat, gaining 0.3 percent at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) was little changed.

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

Drake & Scull International PJSC (DSI) declined to the lowest since Jan. 23, losing 3.5 percent to 79.2 fils. The Dubai-based construction company said net income fell 18 percent to 37.6 million dirhams ($10 million).

Renaissance Services SAOG (RNSS) tumbled the most in nine months, losing 9.7 percent to 0.501 rial. The provider of services to the oil and gas industry posted a quarterly profit that missed analysts’ estimates.

Union Properties PJSC (UPP) tumbled to the lowest since February, decreasing 4.3 percent to 35.9 fils. The Dubai-based developer posted a 73 percent slump in first-quarter profit to 22.4 million dirhams.

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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