Gulf Stocks: Al Khaliji and Saudi Arabia’s Arriyadh Development

Abu Dhabi’s ADX General Index (ADSMI) retreated 0.2 percent at the 2 p.m. close in the emirate and Qatar’s QE Index (DSM) dropped 1 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) and the DFM General Index (DFMGI) were little changed.

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

Al Khaliji (KCBK) slumped the most in almost two years, losing 7.1 percent to 16.4 riyals. The Qatari lender called off a planned merger with International Bank of Qatar.

Arriyadh Development Co. (ADCO) advanced as much as 1 percent, the most since May 30, to 15.05 riyals before closing at 14.95 riyals. The Saudi Arabian property developer awarded a contract valued at 59.3 million riyals ($16 million) to a local company to build cooling and freezing warehouses.

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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