Persian Gulf Stocks: Etisalat, Mobily, Aldrees Petroleum

Abu Dhabi’s ADX General Index (ADSMI) fell 0.4 percent to 2,456.22, the lowest this month, at the 2 p.m. close in the emirate.

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

Aldrees Petroleum & Transport Services Co. (ALDREES AB) advanced 0.9 percent to 46.40 riyals, the highest in a week. The gasoline station operator in Saudi Arabia said it is seeking shareholder approval to raise its capital 20 percent to 300 million riyals ($80 million) by offering one free share for every five held.

Emirates Telecommunications Co. (ETISALAT) dropped 2.1 percent, the most since Jan. 17, to 9.25 dirhams. The United Arab Emirates’ largest telephone company said full-year profit declined 23 percent after it booked an impairment of 1 billion dirhams on its operations in India.

Etihad Etisalat Co. (EEC) gained 2.1 percent to 60 riyals, the highest since October 2007. Saudi Arabia’s second- largest phone company known as Mobily signed a 10 billion-riyal ($2.7 billion) refinancing agreement with seven local banks.

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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