Persian Gulf Stocks: Air Arabia and National Bank of Abu Dhabi

Dubai’s DFM General Index (DFMGI) advanced 0.9 percent, the most since July 13, to 1,541.15 at the 2 p.m. close in the emirate. The measure gained 2.3 percent this week. Abu Dhabi’s ADX General Index (ADSMI) climbed 0.8 percent. Saudi Arabia’s market was closed for the weekend.

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

Air Arabia (AIRARABI) PJSC climbed the most in more than three weeks, gaining 0.8 percent to 67.6 fils. The Middle East’s largest low-cost airline said second-quarter profit advanced 2 percent to 49.6 million dirhams ($13.5 million) as it lured more passengers with cheaper tickets.

National Bank of Abu Dhabi PJSC (NBAD UH) jumped the most since June 15, adding 2.2 percent to 11.6 dirhams. The United Arab Emirates’ second-biggest lender by assets had its price estimate raised 9 percent to 16.17 dirhams at Goldman Sachs Group Inc.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.