Persian Gulf Stocks: Arabtec in Dubai and Yamamah Cement
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Arabtec Holding Co. (ARTC) , the United Arab Emirates’ biggest construction company, surged the most in more than three years, soaring 15 percent to 3.45 dirhams. Abu Dhabi’s state- owned Aabar Investments PJSC (AABAR) boosted its stake in the Dubai builder to 10.45 percent.
Yamamah Cement Co. (YACCO) climbed 2 percent to 51 riyals, the highest close since March 18. The Saudi Arabian maker of the building material said its estimated first-quarter profit advanced 54 percent from a year earlier to 278 million riyals ($74 million) on higher sales.
To contact the reporter on this story: Zahra Hankir in Dubai at email@example.com
To contact the editor responsible for this story: Claudia Maedler at firstname.lastname@example.org