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Persian Gulf Stocks: RAKBank of U.A.E., Oman International

July 24 (Bloomberg) -- Dubai’s DFM General Index fell 0.2 percent to 1,520.47 at the 2 p.m. close in the emirate, the lowest since June 29. Abu Dhabi’s ADX General Index also retreated 0.2 percent, while Qatar’s measure added 0.1 percent.

Oman’s benchmark index declined 0.3 percent. Kuwait’s SE Price Index gained less than 0.1 percent.

The following shares were active in the Persian Gulf region. Stock symbols are in parenthesis.

Aviation Lease & Finance Co. (ALAFCO KK) jumped 7.6 percent, the most since Jan. 3, to 355 fils after the Kuwaiti company known as Alafco said it gained 17 million dinars ($62 million) by waiving an agreement with Airbus SAS to buy six 350-900 aircraft for a third party.

National Bank of Ras Al-Khaimah PSC (RAKBANK UH) rose 1.1 percent to 4.70 dirhams, the highest level since Feb. 16. The lender known as RAKBank said second-quarter profit advanced 23 percent to 296 million dirhams ($81 million).

Oman International Bank (OIBB OM) climbed 1.5 percent, the most since June 28, to 0.263 rial. The board of the Muscat-based lender started a review of its operations and will consider plans including a potential alliance with another financial institution.

United Development Co. (UDCD QD) advanced as much as 1.6 percent, the most since June 9, to 20.55 riyals before trimming gains to close at 20.4 riyals. The Qatari investment company said first-half profit rose 1.7 percent to 346.8 million riyals ($95 million) from 340.9 million riyals a year earlier.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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