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Persian Gulf Stocks: Doha Bank, Dubai Investments, Emirates NBD

Dubai’s DFM General Index (DFMGI) rallied 4.7 percent, the biggest increase since December 2009, to 1,686.66 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index (ADSMI) advanced 1 percent.

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

Doha Bank QSC (DHBK) climbed the most since Feb. 21, gaining 1.2 percent to 60 riyals. The Qatari bank said a $500 million senior bond issue was oversubscribed by eight times and that it will use proceeds to support growth plans.

Dubai Investments PJSC (DIC) rallied 9.1 percent, the most in a week, to 94.9 fils. The owner of stakes in more than 40 companies plans to exit some of its businesses as Dubai’s economy shows signs of a recovery, Chief Executive Officer Khalid bin Kalban said.

Emirates NBD PJSC (EMIRATES) rose 2.9 percent to 3.19 dirhams, the highest since March 5. The United Arab Emirates’ biggest bank is adding 250 million yuan to its bonds due in March 2015, according to a banker with knowledge of the deal.

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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