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Gulf Stocks: Gulf General Investment and Samba Financial Group

May 23 (Bloomberg) -- The DFM General Index retreated 2 percent, the most since March 14, to 1,546.65 at the 2 p.m. close in Dubai. Qatar’s QE Index lost 1.9 percent and Saudi Arabia’s Tadawul All Share Index declined 0.7 percent.

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

Gulf General Investment Co. (GGICO UH) slumped the most since April 7, losing 6.5 percent to 33 fils. The Dubai-based investment company defaulted on 489.2 million dirhams ($133 million) of bank payments as of March 31 amid a debt restructuring.

Samba Financial Group (SAMBA AB) fell to the lowest level in two months, retreating 1.4 percent to 53.5 riyals. Egypt’s Banque Misr SAE is holding talks with Saudi investors to sell its 2 percent stake in Samba, Asharq al-Awsat newspaper said, citing the bank’s Deputy Chairman Mohammad Abbas Fayed.

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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