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Gulf Stocks Movers: Arabtec Holding and Arab National Bank

Qatar’s QE Index rose 0.3 percent to 8,998.2, the highest since September 2008, at the 12:30 p.m. close in Doha. The Dubai Financial Market General Index dropped 0.7 percent and Saudi Arabia’s Tadawul All Share Index slipped less than 0.1 percent.

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

Arabtec Holding Co. (ARTC UH) lost the most since Dec. 12, retreating 2.5 percent to 1.98 dirhams. Riad Kamal, chief executive officer of the United Arab Emirates’ biggest construction company, has been suspended from buying shares in the U.A.E. for six months, a circular obtained by Bloomberg News showed.

Arab National Bank (ARNB AB) gained the most since December 2009, jumping 4.8 percent to 39.6 riyals. Saudi Arabia’s sixth- largest publicly traded lender by assets said its board proposed a 31 percent bonus share issue and a dividend of 1 riyal a share for 2010.

To contact the reporter on this story: Zahra Hankir in Dubai at or

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

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