Persian Gulf Stocks: Southern Province Cement and Maaden

Saudi Arabia (SABIC)’s Tadawul All Share Index (SASEIDX) slumped 1.8 percent, the most since Aug. 20, to 7,717.72 at the 3:30 p.m. close in Riyadh. The DFM General Index (DFMGI) fell 1.1 percent.

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

Southern Province Cement Co. (SOCCO) climbed to the highest since March 14, rising 1 percent to 98 riyals. Saudi Arabia’s second-largest cement producer by market value posted a 24 percent increase in first-quarter profit to 279.8 million riyals ($75 million) on higher demand and production from the second line at its Tahama plant.

Saudi Arabian Mining Co. (MAADEN) decreased 1.6 percent, the biggest drop since Dec. 13, to 36.6 riyals. Shareholders at the state-controlled company known as Maaden authorized the board to sell sukuk or other debt instruments.

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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