Persian Gulf Stocks: Industries Qatar, Sabic and Union National
Dubai’s DFM General Index (DFMGI) dropped 2 percent, the most since Aug. 9, to 1,380.04 at 1:25 p.m. in the emirate. Abu Dhabi’s ADX General Index (ADSMI) slipped 0.2 percent and Saudi Arabia’s Tadawul All Share Index (SASEIDX) lost 0.8 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Industries Qatar QSC (IQCD) , the Middle East’s second- biggest petrochemicals company, slumped the most since Oct. 4, losing 1.7 percent to 130 riyals. Saudi Basic Industries Corp. (SABIC) , the world’s largest petrochemicals maker, tumbled 1.6 percent to 95 riyals. Crude for December delivery decreased as much as 2.2 percent to $91.13 a barrel in New York.
Union National Bank PJSC (UNB UH) headed for the biggest drop since Sept. 19, losing 3 percent to 2.91 dirhams. The United Arab Emirates-based state-controlled lender may sell a five-year dollar-denominated benchmark-size bond, according to two bankers familiar with the transaction.
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