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Gulf Stocks: Rabigh Refining, Saudi Advanced, Southern Province

Jan. 2 (Bloomberg) -- The DFM General Index increased 2.3 percent, the most since Oct. 28, to 1,668.27 at the 2 p.m. close in Dubai. The gauge declined 9.6 percent in 2010. Abu Dhabi’s measure gained 0.8 percent, while Saudi Arabia’s Tadawul All Share Index was little changed, increasing less than 0.1 percent.

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

Rabigh Refining & Petrochemical Co. (PETROR AB) advanced 0.9 percent, the most since Dec. 18, to 22.07 riyals. The joint venture between Sumitomo Chemical Co. and Saudi Aramco said two polyethylene units and an ethane cracker oven are operating at full capacity after a power outage.

Saudi Advanced Industries Co. (SAIC AB) rose 1.5 percent to 13.80 riyals, the highest close since Dec. 15. The Riyadh-based company that manufactures airplane parts won a $53 million contract from Syrian Arab Airlines to inspect planes and provide engine maintenance.

Southern Province Cement Co. (SOCCO AB) gained the most since Dec. 13, rising 2.4 percent to 63.25 riyals. The Saudi cement maker’s board recommended paying a dividend of 2.50 riyals a share for the second half of 2010.

To contact the reporter on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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