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Gulf Stocks: Arabtec, National Shipping, Safco and Saudi Kayan

Jan. 17 (Bloomberg) -- The DFM General Index gained 0.5 percent, the most since Jan. 6, to 1,608.97 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index lost 0.9 percent. Saudi Arabia’s Tadawul All Share Index slipped 0.3 percent.

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

Arabtec Holding PJSC (ARTC UH) increased the most since Jan. 6, advancing 1.1 percent to 1.85 dirhams. The biggest publicly traded construction company in the United Arab Emirates said it won contracts with a combined value of 356 million dirhams ($97 million).

National Company for Glass Industries (ZOUJAJ AB) rose to the highest since Jan. 1, gaining 1.1 percent to 28.4 riyals. The Saudi maker of bottles and jars known as Zoujaj said fourth-quarter net income rose to 14.5 million riyals ($3.9 million) from 4.6 million riyals.

National Shipping Co. (NSCSA AB) slumped the most since May 25, declining 4.5 percent to 16.95 riyals. The Saudi operator of crude oil and chemical tankers said fourth-quarter profit fell to 51.5 million riyals from 54.6 million riyals a year earlier.

Saudi Arabian Fertilizer Co. (SAFCO AB) surged to the highest in more than two years, soaring 5.1 percent to 179.5 riyals. The unit of Saudi Basic Industries Corp. (SABIC AB) said fourth-quarter profit more than tripled as rising global demand bolstered prices and sales volume. Saudi Basic shares gained 1.4 percent to 112.25 riyals.

Saudi Kayan Petrochemical Co. (KAYAN AB) dropped the most since Oct. 16, falling 2 percent to 19.85 riyals. The unit of Saudi Basic Industries Corp. said its fourth-quarter loss widened to 4.1 million riyals from 400,000 riyals in the year-earlier period.

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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