Gulf Stocks: Ajman Bank and Gulf General Investment

Dubai’s DFM General Index (DFMGI) rallied 1.5 percent to the highest since Feb. 16 at the 2 p.m. close in the emirate, bringing its gain for the week to 5.5 percent. Abu Dhabi’s ADX General Index (ADSMI) rose 0.2 percent. Saudi Arabia’s market was closed for the weekend.

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

Ajman Bank PJSC (AJMANBAN) climbed for a fourth day, gaining 3.5 percent to 80.9 fils. The United Arab Emirates-based Islamic bank named Asad Ahmed Batla head of retail banking.

Gulf General Investment Co. (GGICO UH) dropped to the lowest level on record, declining 3 percent to 29.3 fils. The Dubai-based investment company said it lost 973 million dirhams ($265 million) in 2010 as it took impairment charges on real- estate and financial investments.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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

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