Gulf Stocks: Al Rajhi Insurance, Etihad Etisalat, Jarir

Dubai’s DFM General Index (DFMGI) slipped 0.7 percent to 1,522.10, the lowest level since June 29, at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) declined 0.4 percent, while Kuwait’s SE Price Index gained 0.5 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.3 percent.

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

Al Rajhi Company for Co-operative Insurance (ARCCI AB) decreased 1 percent to 39.70 riyals, the lowest since July 9. The multi-line insurance company reported a second-quarter loss that more than doubled to 15.3 million riyals ($4.1 million).

Etihad Etisalat Co. (EEC) advanced 2.8 percent, the most since April 16, to 54.5 riyals. The Saudi Arabian telephone company known as Mobily boosted second-quarter profit 29 percent as customers bought more smartphones and increased spending on data services.

Jarir Marketing Co. (JARIR) gained 0.9 percent, the most since July 9, to 169.5 riyals. Saudi Arabia’s largest stationery and bookseller by market value will pay a 2 riyals a share dividend for the second quarter.

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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