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Gulf Stocks: ACICO, Dana, Omantel and Umm Al-Qaiwain Cement

May 13 (Bloomberg) -- The DFM General Index rose for a second day, gaining 0.2 percent to 1,718.86, trimming the loss for the week to 0.9 percent. Qatar’s QE Index and Abu Dhabi’s gauge advanced 0.3 percent. Saudi Arabia’s market is closed for the weekend.

The following stocks rose or fell in the Gulf. Symbols are in parentheses.

ACICO Industries (ACICO KK) jumped 5.7 percent, the most since Jan. 20, to 370 fils. The Kuwaiti building-material maker said first-quarter profit increased 30 percent to 2.8 million dinars ($9.7 million).

Dana Gas PJSC (DANA UH) increased 2.5 percent to 82 fils, the highest in more than a week. The oil and gas producer posted a first-quarter profit of 33 million dirhams ($9 million) after a 32 million-dirham loss in the year-earlier period.

Oman Telecommunications Co. (OTEL OM) fell the most since March 30, retreating 1.2 percent to 1.242 rials. The biggest telephone company in the sultanate said first-quarter net income dropped 15 percent to 32.4 million rials ($84.2 million) on higher expenses.

Umm Al-Qaiwain Cement Industries Co. (QCEM KK) surged the most since January in Kuwait trading, advancing 8.9 percent to 61 fils. The producer of building materials posted a first-quarter profit of 16.9 million dirhams ($4.6 million) after a loss of 17.2 million dirhams a year earlier.

To contact the reporters on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net.

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