Persian Gulf Stocks: Galfar Engineering and Kingdom Holding

Dubai’s DFM General Index (DFMGI) rallied to the highest since November 2010, rising 1.9 percent to 1,730.43 at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) gained 0.7 percent and Saudi Arabia (SABIC)’s Tadawul All Share Index (SASEIDX) advanced 0.8 percent.

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

Galfar Engineering & Contracting Co. (GECS OM) advanced to the highest since Aug. 4, increasing 5.4 percent to 0.394 rial. The Omani construction company won a 139 million-rial ($361 million) contract.

Kingdom Holding Co. (KINGDOM) advanced for the first time since Feb. 25, gaining 0.9 percent to 11.05 riyals. The investment company controlled by Saudi billionaire Prince Alwaleed bin Talal said the board approved the purchase of Oasis Kingdom project and land in Riyadh for 431 million riyals ($115 million).

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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