Gulf Stocks: Abu Dhabi Commercial, Jazeera Airways of Kuwait

Kuwait’s benchmark SE Price Index was little changed, slipping less than 0.1 percent to 6,499.80 at the 12:30 p.m. close in Kuwait City. Dubai’s measure fell 0.7 percent and Abu Dhabi’s gauge gained 0.4 percent.

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

Abu Dhabi Commercial Bank PJSC (ADCB) climbed the most since April 28, gaining 1.4 percent to 2.88 dirhams. The United Arab Emirates’ third-biggest bank wants to to sell its 25 percent stake in Malaysia’s RHB Capital Bhd. for about 10 ringgit a share, or at two times book value, the Star reported, citing people it didn’t identify. A spokesman for the bank declined to comment when contacted by Bloomberg News today.

Commercial Facilities Co. (FACIL) SAK declined the most since April 19, dropping 1.3 percent to 375 fils. The financial services company said first-quarter profit fell to 3.3 million dinars ($12 million) from 5.3 million dinars a year earlier.

Jazeera Airways (JAZEERA) KSC jumped the most since April 10, climbing 5 percent to 126 fils. The Kuwaiti low-cost airline reported a first-quarter profit of 1.1 million dinars after a loss of 4.5 million dinars 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

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