Persian Gulf Stocks: Aldar, Saudi Industrial, Yanbu Cement

Saudi Arabia’s Tadawul All Share Index gained 0.5 percent to 6,414.47 at the 3:30 p.m. close in Riyadh, the highest level since August. Bahrain’s BB All Share Index (BHSEASI) climbed 1.3 percent.

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

Aldar Properties PJSC (ALDAR) dropped 2.4 percent, the biggest decrease since Dec. 21, to 83 fils after the Abu Dhabi- based property developer said its board will meet Dec. 28 to discuss the sale of unspecified assets.

Saudi Industrial Investment Group (SIIG) rose 1.1 percent to 19.30 riyals, the highest since Nov. 20. The board of the investor in petrochemicals projects approved a dividend of 1 riyal a share for 2011. It also said it will seek shareholders approval to allow the board to offer bonds or sukuk locally and abroad.

Yanbu Cement Co. (YNCCO) gained 4.3 percent to 66.25 riyals, the highest level since August 2008. The Saudi Arabian cement maker restarted three of its production lines after using their fuel allocations to test-run a new line. The Jeddah-based company said its output loss due to the stoppage was 14.2 million riyals ($3.8 million).

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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