Gulf Stocks: Astra Industrial, Etisalat, Kuwait Finance House

Dubai’s DFM General Index (DFMGI) slipped 0.8 percent to 1,533.23 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) declined 0.9 percent and Kuwait’s SE Price Index dropped 1.6 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) decreased 0.6 percent.

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

Astra Industrial Group (ASTRA) snapped a five-day decline, gaining 1.2 percent to 34 riyals. The Saudi Arabian company operating in pharmaceuticals, specialty chemicals and steel industries said second-quarter profit rose to 67.3 million riyals ($18 million) from 61.5 million riyals a year earlier.

Emirates Telecommunications Corp. (ETISALAT UH) retreated 1.4 percent, the most since March 31, to 10.90 dirhams. The biggest of two telephone companies in the United Arab Emirates said second-quarter profit dropped to 1.59 billion dirhams ($433 million) from 1.87 billion dirhams a year earlier.

Kuwait Finance House (KFIN) tumbled 5.2 percent, the most since December 2009, to 910 fils. The country’s largest Islamic bank said second-quarter profit declined 43 percent to 22.8 million dinars ($83 million).

To contact the reporter on this story: Zahraa Alkhalisi in Dubai at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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