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Persian Gulf Stocks: Emirates NBD, Bank Dhofar Advance

July 25 (Bloomberg) -- Dubai’s DFM General Index retreated 0.7 percent to 1,510.58, the lowest since June 28, at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index lost 0.9 percent, while Oman’s benchmark index gained 0.2 percent.

The following stocks were active in the Persian Gulf region. Stock symbols are in parentheses.

Bank Dhofar SAOG (BKDB OM) soared 7 percent, the biggest gain since December 2009, to 0.595 rial. Oman’s third-largest bank by assets said the Primary Court in Muscat ruled in its favor in a case filed by Oman International Bank and others.

Emirates NBD PJSC (EMIRATES UH) gained 1.2 percent to 4.15 dirhams, the largest increase since July 17. The United Arab Emirates’ biggest bank by assets reported an 87 percent jump in second-quarter profit to 744.5 million dirhams ($203 million) as investment income increased and loan-loss charges dropped.

To contact the reporters on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

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

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