Gulf Stocks: Dana Gas, DP World and RAK Properties Are Active
The DFM General Index increased 0.4 percent to 1,604.19 at the 2 p.m. close in Dubai. Qatar’s QE Index advanced 0.7 percent and Abu Dhabi’s ADX General Index gained 0.6 percent. Egypt’s Hosni Mubarak ceded power to the military Feb. 11 after an 18-day popular revolt.
The following stocks rose or fell in the Gulf. Symbols are in parentheses.
Dana Gas (DANA UH) surged to the highest this month, soaring 4.5 percent to 70 fils. The fuel producer is developing deposits, production and transportation facilities in Egypt.
DP World Ltd. (DPW DU) advanced the most since Feb. 2, rising 2.5 percent to $0.616. The port operator said that its port in Cochin, Kerala, has opened and will be completed in three phases.
RAK Properties PJSC (RAKPROP UH) increased the most since Feb. 7, advancing 2.4 percent to 42 fils. The developer that built Ras Al Khaimah’s first man-made islands said full-year net income rose to 187.4 million dirhams ($51 million) from 170 million dirhams a year earlier.
To contact the reporter on this story: Zahra Hankir in Dubai at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.