Gulf Stocks: Aldar Properties, Qatar Commercial, Waha Capital

Dubai’s DFM General Index retreated the most since Jan. 20, dropping 0.4 percent to 1,623.5 at the 2:00 p.m. close in Dubai. Abu Dhabi’s ADX General Index declined for a third day, slipping 0.3 percent. Qatar’s QE Index gained 0.2 percent.

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

Aldar Properties PJSC (ALDAR UH) slid to the lowest level on record, decreasing 4.2 percent to 1.83 dirhams. The Abu Dhabi-based real-estate developer said shareholders will meet Feb. 20 to discuss issuing convertible bonds.

Commercial Bank of Qatar (CBQK QD) fell for the second time in three days, retreating 1.7 percent to 88.5 riyals. Beltone Financial cut its price estimate on the Persian Gulf country’s second-biggest bank by assets to 92.6 riyals from 101 riyals.

Waha Capital PJSC (WAHA UH) rose to the highest since Nov. 1, gaining 2.5 percent to 82 fils. The Abu Dhabi-based leasing company said full-year profit rose 15 percent. Net income increased to 249 million dirhams ($68 million) from 217 million dirhams in the same period a year earlier.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.