Persian Gulf Stocks: Ahli United Bank, First Gulf Bank

Dubai’s DFM General Index (DFMGI) declined 0.4 percent to 1,547.86 at the 2 p.m. close in the emirate, taking the weekly drop to 0.6 percent. Abu Dhabi’s ADX General Index (ADSMI) advanced 0.4 percent, while Bahrain’s gauge rose 0.1 percent. Saudi Arabia was closed for the weekend.

The following stocks were active in Persian Gulf region. Stock symbols are in parentheses.

Ahli United Bank BSC (AUB BI) gained as much as 1.4 percent to 73 cents before trimming gains to close at 72.5 cents. The Bahrain-based lender said second-quarter profit rose to $84.4 million from $70.2 million a year earlier.

First Gulf Bank PJSC (FGB) advanced as much as 1.1 percent to 17.95 dirhams before paring gains to close at 17.8 dirhams. The United Arab Emirates lender controlled by Abu Dhabi’s ruling family said second-quarter profit rose 13 percent to 890 million dirhams ($242 million).

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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