Gulf Stocks: International Financial and Kingdom Holding

The DFM General Index (DFMGI) declined for a fourth day, losing 0.2 percent at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) decreased 0.6 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.1 percent.

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

Combined Group Contracting Co. (CGC) increased the most in a week, gaining 1.1 percent to 1,920 fils. The construction company signed a 120 million dinar ($434 million) contract in which it has a 40 percent stake.

Drake & Scull International (DSI) PJSC increased the most in almost two weeks, gaining 1 percent to 1.01 dirhams. The Dubai-based construction company is bidding with India’s Voltas Ltd. for a more than 2 billion-dirham ($545 million) Abu Dhabi airport contract.

International Financial Advisors (IFA) KSCC climbed to the highest in almost three weeks, jumping 3.9 percent to 54 dinars. The Kuwaiti asset-management company had a profit of 409,000 dinars after a loss of 3.4 million dinars a year earlier.

Kingdom Holding Co. (KINGDOM AB) climbed to the highest level since April 13, advancing 2.3 percent to 8.95 riyals. The company controlled by Saudi billionaire Prince Alwaleed bin Talal said talks to buy a 25 percent stake in Zain Saudi are still under way. Zain Saudi, or Mobile Telecommunications Company of Saudi Arabia (ZAINKSA AB), rose 0.7 percent to 7.3 riyals.

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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