Persian Gulf Stocks: Dana Gas, Industries Qatar and Sabic

Abu Dhabi’s ADX General Index (ADSMI) advanced 0.6 percent to 2,504.17, the highest since Oct. 30, at the 2 p.m. close in the emirate. Dubai’s DFM General Index (DFMGI) slipped 0.1 percent after surging 3.6 percent yesterday. Saudi Arabia’s Tadawul All Share Index (SASEIDX) jumped 0.5 percent to 6,904.38, the highest since May 2010.

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

Dana Gas PJSC (DANA) climbed for a second day, rising 4.3 percent to 49 fils, the highest since Dec. 19. The producer of oil and gas yesterday said the board will consider a revised 2012 budget at a meeting this week.

Industries Qatar QSC (IQCD) , the Middle East’s second- biggest petrochemicals company, rose the most since Feb. 2, advancing 1.3 percent to 134.7 riyals. Saudi Basic Industries Corp. (SABIC) , the world’s biggest petrochemicals maker, gained 1.6 percent to 96.5 riyals, the highest since Jan. 3. Crude for March delivery rallied as much as 2.1 percent to $105.44 a barrel on the New York Mercantile Exchange.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.