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Persian Gulf Stocks: Al Qassim, Al-Khodari Sons and QNBK

Saudi Arabia’s Tadawul All Share Index (SASEIDX) rose 0.5 percent to 6,476.60, the highest level since July 24, at the 3:30 p.m. close in Riyadh. Qatar’s QE Index dropped 2.1 percent, the most since Aug. 7.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Al Qassim Agricultural Development Co. (QAACO) jumped to the highest since April 2007, rallying 5.6 percent to 26.5 riyals. The operator of farms in Saudi Arabia said it repaid Al Rajhi Bank (RJHI) 27.7 million riyals ($7.39 million). Al Rajhi shares advanced 2.4 percent to 74 riyals.

Abdullah A.M. Al-Khodari Sons Co. (ALKHODAR) advanced the most this month, rising 2.5 percent to 51.75 riyals. The Saudi Arabian contractor won a 105 million-riyal government contract.

National Leasing (NLCS) climbed the most since Dec. 19, gaining 3.6 percent to 47.9 riyals. The Qatari investment company said full-year net income rose to 216 million riyals ($59 million) from 180 million riyals the year earlier.

Qatar National Bank SAQ (QNBK) slumped the most in more than two years, dropping 5.2 percent to 145 riyals. The Gulf country’s biggest bank by assets said it would distribute a cash dividend of 40 percent and bonus shares of 10 percent.

Qassim Cement Co. (QACCO) decreased the most since Aug. 6, losing 1.6 percent to 74.75 riyals. The Saudi producer of the building material said yesterday Saudi Aramco won’t provide fuel for a new plant.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

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

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