Gulf Stocks: Arabian Cement, National Bank of Oman, Qatar GISS
Stock Chart for Arabian Cement (ARCCO)
Dubai’s DFM General Index (DFMGI) climbed for a seventh day, adding 0.3 percent to 1,652.76, the highest level since Jan. 10 at the 2:00 p.m. close in the emirate. Kuwait’s gauge advanced 0.5 percent, while Saudi Arabia’s Tadawul All Share Index rose less than 0.1 percent.
The following stocks rose or fell in the Persian Gulf region. Symbols are in parenthesis.
Arabian Cement (ARCCO) Co soared the most since November 2008, gaining 9.8 percent to 35.8 riyals. The Saudi Arabian cement and clinker producer said first-quarter profit surged 42 percent to 116 million riyals ($31 million).
National Bank of Oman (NBOB OM) rose the most in two weeks, gaining 1.3 percent to 0.312 rial. The country’s second-biggest lender by assets said first-quarter profit rose 17 percent to 7.7 million rials ($20 million).
Gulf International Services QSC (GISS QD) tumbled the most sine Feb. 27, dropping 5.2 percent to 27.55 riyals after the Qatari holding company reported lower first-quarter earnings. Net income was 86.3 million riyals ($24 million). The company posted a profit of 148.7 million riyals in the first quarter of 2010, according to data compiled by Bloomberg.
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