Persian Gulf Stocks: Arkan in Dubai and Boubyan in Kuwait Move

Dubai’s benchmark DFM General Index (DFMGI) climbed 0.4 percent to 1,479.20, the highest since June 11, at the close in the emirate. Qatar’s QE Index (DSM) was little changed, while Kuwait’s measure slipped 0.1 percent.

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

Arkan Building Materials Co. (ARKAN) fell the most in a week, dropping 1.3 percent to 79 fils. The Abu Dhabi-based company said its board approved the terms of a 1.4 billion- dirham ($381 million) loan it’s getting from five regional banks.

Boubyan Bank KSC (BOUBYAN) rose to the highest level since January 2011, advancing 1.6 percent to 630 fils. The lender said it plans to study an acquisition offer from National Bank of Kuwait SAK (NBK KK). National Bank of Kuwait (NBK) rose 2 percent, the most since Nov. 14, to 1,040 fils.

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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