Persian Gulf Stocks: Tokio Marine Saudi Arabia and Taqa Moved

Saudi Arabia (SABIC)’s benchmark Tadawul All Share Index (SASEIDX) fell 0.4 percent to 6,745.36, the lowest since June 16, at the close in Riyadh. The measure has gained 5.1 percent so far this year. Dubai’s benchmark DFM General Index (DFMGI) retreated 0.7 percent while Qatar’s QE Index (DSM) decreased 0.3 percent.

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

Abu Dhabi National Energy Co. (TAQA) tumbled the most since January 2011, slumping 6.3 percent to 1.2 dirhams. Crude oil for August delivery last week fell 5.1 percent to $79.76 a barrel in New York. Taqa, founded in 2005, owns stakes in businesses that generate power or produce oil and natural gas in the Middle East, North America, the North Sea and India.

Tokio Marine Saudi Arabia (ALINMATO AB), a company that writes Shariah-compliant property and casualty insurance, closed at 77.5 riyals in its trading debut in Riyadh.

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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