Persian Gulf Stocks: Emaar, Gulf Navigation and Shuaa Capital
The following shares were active in the Persian Gulf region. Stock symbols are in parenthesis.
Emaar Properties PJSC (EMAAR) jumped the most in more than a week, rising 2.2 percent to 2.82 dirhams. The developer said revenue from the sale of villas jumped to 337 million dirhams ($92 million) in the second-quarter from 54.5 million dirhams.
Gulf Navigation Holding (GULFNAV) PJSC dropped to the lowest level in more than five months, decreasing 2.9 percent to 30.6 fils. The only publicly traded oil-tanker owner in Dubai posted a second-quarter loss of 24.8 million dirhams after a profit of 20.5 million dirhams a year earlier. The company set aside money to cover costs related to the sale of its Probos vessels.
Shuaa Capital PSC (SHUAA) rose to the highest since Aug. 8, gaining 0.9 percent to 88.5 fils. The investment bank controlled by Dubai’s ruler said its asset management unit oversees more than 1 billion dirhams.
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