Gulf Stocks: Abu Dhabi Commercial Bank and Southern Province
Dubai’s DFM General Index (DFMGI) slipped 0.1 percent to 1,598.79 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) gained 0.5 percent, while Saudi Arabia’s Tadawul All Share Index (SASEIDX) lost 0.9 percent.
The following stocks rose or fell in the Gulf. Symbols are in parentheses.
Abu Dhabi Commercial Bank PJSC (ADCB) advanced 1.9 percent to 3.29 dirhams, the highest close since October 2008. The United Arab Emirates’ third-largest bank by assets said it will gain about 1 billion dirhams ($272 million) from the sale of its stake in RHB Capital Bhd.
Southern Province Cement Co. (SOCCO AB) gained as much as 2.8 percent before closing 0.7 percent higher at 72.75 riyals. Saudi Arabia’s biggest cement producer by market value said second-quarter profit will rise an estimated 28 percent to 237 million riyals ($63 million) from 185 million riyals a year- earlier.
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