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Gulf Stocks: Air Arabia, Drake & Scull, National Bank of Oman

The Dubai Financial Market General Index advanced 1.6 percent, the most since Jan. 2, to 1,630.16 at the 2 p.m. close in the emirate. Qatar’s gauge climbed 0.8 percent and Saudi Arabia’s Tadawul All Share Index rose 0.5 percent.

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

Air Arabia PJSC (AIRARABI UH) climbed 1 percent to 84.8 fils, the highest since Oct. 13. The Middle East’s biggest low-cost airline plans to increase the number of routes it operates to 75 from 67 by the end of this year, Chief Executive Officer Adel Ali said.

Drake & Scull International PJSC (DSI UH) increasing 4.6 percent to 1.13 dirhams, the highest since October 2009. The Dubai-based construction engineering company said it won a 465 million-dirham ($127 million) contract in Egypt.

Mohammad Al-Mojil Group (MMG AB) rose for a second day, gaining 1.7 percent to 17.8 riyals. The Saudi Arabian company that provides services to the construction industry signed an initial accord for a 256 million-riyal ($68 million) contract to carry out electrical and mechanical works.

National Bank of Oman SAOG (NBOB OM) dropped 2.1 percent to 0.331 rial, the lowest close since Sept. 2. The Persian Gulf country’s second-biggest bank by assets said full-year profit rose to 27.2 million rials ($71 million). That missed the 29.45 million-rial mean estimate of eight analysts compiled by Bloomberg.

Salam International Investment Co. (SIIS QD) gained 9.9 percent, the most since October 2005, to 11.1 riyals. The Qatari company with assets in construction posted an 8 percent increase in 2010 profit to 141.2 million riyals ($39 million).

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