Gulf Stocks: ACICO of Kuwait, Commercial Bank of Kuwait, Dana Gas, Omantel

The DFM General Index rose for a second day, gaining 0.2 percent to 1,718.82 at 11:38 a.m. in Dubai. The measure is down 0.9 percent this week. Qatar’s QE Index increased 0.4 percent and Abu Dhabi’s gauge advanced 0.3 percent. Saudi Arabia’s market is closed for the weekend.

The following stocks rose or fell in the Gulf. Symbols are in parentheses.

ACICO Industries (ACICO KK) jumped 5.7 percent, the most since Jan. 20, to 370 fils. The Kuwaiti building-material maker said first-quarter profit increased 30 percent to 2.8 million dinars ($9.7 million).

Commercial Bank of Kuwait SAK (CBK KK) dropped 1.1 percent to 900 fils, the lowest intraday level since December 2006. The Gulf Arab country’s second-biggest bank by market value named Badr al-Ahmad as chairman, according to a company statement to the local bourse.

Dana Gas PJSC (DANA UH) increased 2.5 percent to 82 fils, the highest in more than a week. The oil and gas producer posted a first-quarter profit of 33 million dirhams ($9 million) after a 32 million-dirham loss in the year-earlier period.

Oman Telecommunications Co. (OTEL OM) fell the most since March 30, losing 1.4 percent to 1.24 rials. The sultanate’s biggest telephone company’s first-quarter net income dropped 15 percent to 32.4 million rials ($84.2 million) on higher expenses.

To contact the reporters on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net

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