Persian Gulf Stocks: Arabian Cement, Sabic, National Gas, SIDC
Saudi Arabia’s Tadawul All Share Index gained 0.6 percent to 6,628.26 at the close in Riyadh, paring the drop for the week to 0.5 percent. Dubai’s DFM General Index gained 1.1 percent.
The following shares are active in the Persian Gulf region. Stock symbols are in parentheses.
Arabian Cement (ARCCO) plunged 7.4 percent, the most since March 2011, to 56 riyals. The Saudi maker of the building material said second-quarter profit dropped to 71.9 million riyals ($19 million) from 111.7 million riyals a year earlier.
Saudi Basic Industries Corp. (SABIC) rose as much as 1.5 percent to 87.50 riyals before trimming gains to 86.75 riyals. The world’s biggest petrochemicals maker said it will pay a cash dividend of 2 riyals a share for the first half of the year.
National Gas & Industrialization Co. (NGIC) dropped 2.3 percent to 20.90 riyals. The Saudi Arabian company posted a 7 percent decline in second-quarter profit to 33.8 million riyals from a year ago.
Saudi Company for Industrial Development (SIDC AB (SIDC)) jumped 9.8 percent, the most since April 28, to 16.80 riyals. The company known as SIDC said second-quarter profit rose to 9.6 million riyals.
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