Persian Gulf Stocks: Arabtec Holding, Tabreed
Stock Chart for Arabtec Holding Co (ARTC)
Dubai’s benchmark DFM General Index (DFMGI) gained 0.2 percent to 1,610.48 at the 2:00 p.m. close in the emirate, trimming its losses this week to 5.4 percent. Abu Dhabi’s measure rose 0.3 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Arabtec Holding Co. (ARTC) plunged 8.9 percent to 2.67 dirhams, the lowest level since Feb. 8. The biggest publicly traded construction company in the United Arab Emirates said full-year profit fell 15 percent to 260.5 million dirhams ($71 million.)
National Central Cooling Co. (TABREED) tumbled 9.5 percent to 1.62 dirhams, the lowest since March 1. The U.A.E. utility known as Tabreed was started at Al Ramz Securities with an “underweight” recommendation and a price estimate of 96 fils.
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