Persian Gulf Stocks: Savola Group, Aldar Properties

Saudi Arabia’s Tadawul All Share Index dropped 0.2 percent to 6,400.10 at the 3:30 p.m. close in Riyadh. Dubai’s DFM General Index (DFMGI) fell 0.8 percent.

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

Aldar Properties PJSC (ALDAR) dropped to the lowest since April 2005, losing 2.4 percent to 81 fils. The Abu Dhabi- based property developer said it will complete the conversion of bonds held by state-owned Mubadala Development Co. into shares on Jan. 2 and the shares will be listed on the same day.

Savola Group (SAVOLA) rose 2.9 percent to 28.40 riyals, the highest since May 4, after the Saudi Arabian food producer said it was selling land in the kingdom and expanding in Egypt.

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

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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