Persian Gulf Stocks: Agility, Arabtec, Commercial Bank of Kuwait
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Agility (AGLTY) jumped the most in a week, gaining 2.8 percent to 365 fils. The Kuwaiti storage and logistics provider and its partner won a legal case against Supreme Foodservice GmbH of Switzerland. Agility received an arbitration award of $23.1 million.
Arabtec Holding PJSC (ARTC) , the United Arab Emirates’ biggest construction company, rose to the highest since November 2009, advancing 9.2 percent to 2.60 dirhams, amid investor bets the company will benefit from regional infrastructure spending.
Commercial Bank of Kuwait SAK (CBK KK) slumped to the lowest since Oct. 27, retreating 2.7 percent to 730 fils. The Kuwaiti bank said full-year profit plunged 98 percent to 810,000 dinars ($2.9 million) on “weak” government spending.
Emirates Integrated Telecommunications Co. (DU) dropped the most since Dec. 21, losing 2.3 percent to 3 dirhams. The company also known as Du said royalty to the federal government last year will be higher than that of 2010, as it includes 5 percent of revenue in addition to 15 percent of profit before any distribution.
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