Gulf Stocks Movers: Al Abdullatif Industrial, Aldar Properties
Abu Dhabi’s ADX General Index rose 0.4 percent to 2,764.15 at the 2 p.m. close in the emirate. The Dubai Financial Market General Index fell 0.2 percent, and Saudi Arabia’s benchmark stock index declined 0.1 percent.
The following stocks gained or fell in the Gulf. Symbols are in parentheses.
Al Abdullatif Industrial Investment Co. (ALABDUL AB) gained 0.7 percent to 29.8 riyals, the highest close since Nov. 27. The Saudi carpet manufacturer said its Red Sea Cable Co. affiliate started commercial operations at the beginning of the year. Al Abdullatif holds a 27 percent stake in Red Sea Cable.
Aldar Properties PJSC (ALDAR UH) advanced to the highest in a month, climbing 2.9 percent to 2.45 dirhams. Arabian Construction Co. won a contract valued at 750 million dirhams ($204 million) to expand the Masdar Institute of Science and Technology campus in Abu Dhabi. Aldar, Abu Dhabi’s largest developer, is managing the project.
To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net or
To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net
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