Persian Gulf Stocks: Arabtec Falls, National Investments Rises
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Arabtec Holding Co. (ARTC) slumped 5.8 percent to 2.78 dirhams, the lowest close since March 27. Aabar Investments PJSC and its units have acquired a 53 percent stake in the biggest builder in the United Arab Emirates, Alrroya reported. Aabar declined to comment when contacted by Bloomberg news. Officials at Arabtec were not immediately available for comment.
National Investments Co. (NINV) gained the most since May 2, rising 1.4 percent to 148 fils. The investment company posted a first-quarter profit of 2.9 million dinars ($10.4 million) after a loss of 1 million dinars in the year earlier period.
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