Persian Gulf Stocks: Aldar Properties, Saudi Vitrified Clay

Qatar’s QE Index (DSM) climbed to the highest level since April 11, gaining 0.4 percent to 8,816.02. Saudi Arabia’s Tadawul All Share Index dropped less than 0.1 percent.

The following shares were active in the Persian Gulf region. Stock symbols follow company names.

Aldar Properties PJSC (ALDAR) gained 2.4 percent, the biggest increase since Oct. 30, to 85 fils. The board of the Abu Dhabi-based developer confirmed its commitment to keep the company’s shares listed on the emirate’s bourse.

Qatar Islamic Insurance Co. (QISI) fell 2.8 percent, the biggest decline since Nov. 21, to 59.6 riyals. The company that offers non-life insurance said its general manager, Jassim Al- Sadi, resigned.

Saudi Vitrified Clay Pipe Co. (SVCP) surged to the highest since July 2008, climbing 5.3 percent to 69.25 riyals. The manufacturer of clay pipes and fittings said its board proposed paying a second-half dividend of 3 riyals a share.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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