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Gulf Stocks: Taqa, Aldar Properties, Al Khaliji, Qatar Fuel

The Dubai Financial Market General Index retreated 0.2 percent to 1,602.83 at the 2 p.m. close in the emirate. Qatar’s gauge declined 0.3 percent.

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

Abu Dhabi Commercial Bank PJSC (ADCB UH) advanced 2.1 percent to 2.45 dirhams, the highest since Oct. 31. The United Arab Emirates’ third-biggest bank by assets plans to sell 150 million Swiss francs ($157 million) of bonds due December 2015, a person with knowledge of the transaction said.

Abu Dhabi National Energy Co. (TAQA UH) rose 2.9 percent to 1.44 dirhams, the highest level since Jan. 27. The state-run utility known as Taqa said full-year profit soared to 937 million dirhams ($255 million) from 182 million dirhams a year earlier.

Aldar Properties PJSC (ALDAR UH) dropped 3.2 percent, the most since Jan. 30, to 1.81 dirhams. Abu Dhabi’s largest developer posted a loss of 12.7 billion dirhams for 2010 after a profit of 837.4 million dirhams a year earlier.

Al Khaliji (KCBK QD) gained 2.7 percent, the most since Jan. 26, to 20.27 riyals. The Qatari lender is continuing talks with International Bank of Qatar for a possible merger between the two institutions, Al Khaliji Chairman Sheikh Hamad bin Faisal Al Thani said. Separately, full-year profit rose to 427 million riyals ($117 million) from 167 million riyals a year earlier.

Drake & Scull International PJSC (DSI UH) jumped 2.8 percent to 1.1 dirhams, the highest in two weeks. The Dubai-based construction and engineering company is bidding for projects valued at as much as 5 billion dirhams in Qatar, Chief Executive Officer Khaldoun Tabari said.

Qatar Fuel Co. (QFLS QD) rose 2.5 percent to 264.5 riyals, the highest since Bloomberg started tracking the shares in June 2003. The fuel distributor said profit rose to 1 billion riyals last year from 870 million riyals in 2009. The company proposed a divided of 10 riyals a share and one bonus share for every five held.

Savola Azizia United Co. (SAVOLA AB) advanced 2.1 percent to 29.6 riyals, the highest since Jan. 26. The Saudi Arabia food producer was raised to “outperform” from “neutral” at Credit Suisse Group AG with a price estimate of 37 riyals a share.

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