Persian Gulf Stocks: Dubai’s Arabtec Holding and Jazeera Airways

Dubai’s DFM General Index (DFMGI) sank 4.8 percent, the most since January 2010, to 1,607.77 at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) retreated for a third day, dropping 2.2 percent.

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

Arabtec Holding Co. (ARTC) tumbled the most since December 2009, losing 9.9 percent to 2.93 dirhams. The United Arab Emirates’ biggest construction company may post a decline in 2011 profit to 133 million dirhams ($36 million), according to the average estimate of 12 analysts on Bloomberg.

Jazeera Airways (JAZEERA) KSC gained the most since Feb. 21, rising 1.1 percent to 480 fils. The Kuwaiti low-cost airline returned to profit for the first time in three years, meeting analysts’ estimates, as it restructured its business.

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.