Sept. 21 (Bloomberg) -- The Dubai Financial Market General Index advanced 0.6 percent to 1,701.15, the highest level since May 18, at the 2 p.m. close in the emirate. Abu Dhabi’s gauge gained 0.2 percent and the Kuwait SE Price Index was little changed.
The following stocks rose or fell in the Gulf. Symbols are in parentheses.
Abu Dhabi Islamic Bank (ADIB UH) increased the most in two weeks, rising 1.6 percent to 2.61 dirhams. The United Arab Emirates’ second-biggest Islamic lender plans to start a wealth management unit.
Al-Qurain Petrochemicals Co. (ALQURAIN KK) climbed to the highest in more than five months, jumping 2.9 percent to 214 fils. A foreign investor may acquire an “influential” stake in the Kuwait-based maker of plastic and chemicals, Al-Watan reported, without saying where it got the information. Al-Qurain said in a statement to the local bourse that it wasn’t aware of any acquisition plan by an investor.
Arabtec Holding Co. (ARTC UH) rose to the highest in three months, gaining 1.6 percent to 1.93 dirhams. The biggest construction company in the U.A.E. was rated “buy” at Kuwait’s Global Investment House with a share-price estimate of 2.40 dirhams.
Finance House (FH UH) surged the most since July 28, rising 6.4 percent to 4.46 dirhams. The Abu Dhabi-based lender received a 157 million dirham ($43 million) financing facility.
To contact the reporter on this story: Zahra Hankir in Dubai firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com