Persian Gulf Stocks: Air Arabia and Almarai in Saudi Arabia

The DFM General Index (DFMGI) advanced 1.3 percent, the most since April 3, to 1,678.40 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index (SASEIDX) lost 1.9 percent in Riyadh.

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

Air Arabia PJSC (AIRARABI) rose 1.8 percent, the biggest increase since March 28, to 71.8 fils. Shareholders at the Middle East’s biggest discount airline approved a payout of 6 fils a share. The board in February proposed a dividend of 4.5 fils.

Almarai Co. (ALMARAI) tumbled to the lowest in a week, dropping 2.6 percent to 65 riyals. Saudi Arabia’s largest food producer by market value was cut to neutral from overweight at HSBC Holdings Plc (HSBA) and assigned a price estimate of 70.70 riyals a share.

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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