Gulf Stocks Movers: Aldar, Ithmaar Bank, Jabal Omar, NBK

Qatar’s QE Index lost 0.9 percent, the biggest drop in more than a week, to 8,645.65 at the 12:30 p.m. close in Doha. Abu Dhabi’s benchmark stock index advanced 0.3 percent and Saudi Arabia’s Tadawul All Share Index rose 0.5 percent.

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

Aldar Properties PJSC (ALDAR UH) climbed 1.8 percent, gaining for the first time in more than a week, to 2.26 dirhams. Abu Dhabi’s largest developer expects to receive aid from the emirate’s government in the first quarter, Al Arabiya reported.

Ithmaar Bank BSC (ITHMR BI) gained the most in more than a month, jumping 4.2 percent to 12.5 cents. The retail-focused Islamic bank based in Bahrain raised $167 million from a secured, Islamic murabaha loan from Ahli United Bank BSC (AUB BI). Ahli United shares were unchanged at 72 cents.

Jabal Omar Development Co. (JOMAR AB) advanced 2.4 percent, the most in more than a week, to 17.45 riyals. The real-estate developer in Saudi Arabia’s holy city of Mecca awarded a contract valued at 3.4 billion riyals ($908 million) to Nesma & Partners Contracting Co.

National Bank of Kuwait SAK (NBK KK) increased 1.4 percent to 1,460 fils, the highest since July 2008. NBK Capital Ltd., a unit of Kuwait’s biggest lender, acquired a 20 percent stake in Turkish aquaculture company Kilic Deniz.

To contact the reporter on this story: Dana El Baltaji in Dubai

To contact the editor responsible for this story: Claudia Maedler at

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