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Persian Gulf Stocks: Kuwait’s Wataniya Telecom and Qatar Cinema

Aug. 8 (Bloomberg) -- Dubai’s DFM General Index declined 0.8 percent to the lowest since March 17 at the 2 p.m. close in the emirate. Kuwait Stock Exchange Unweighted Index fell 0.2 percent and Qatar’s QE Index decreased 0.8 percent.

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

National Mobile Telecommunications Co. (NMTC KK) advanced the most since July 21, rising 1 percent to 1,980 fils. The Kuwaiti phone company controlled by Qatar Telecom said second-quarter profit rose 19 percent to 23.3 million dinars ($85 million) as it added clients.

Qatar Cinema and Film Distribution Co. (QCFS QD) soared as much as 9.9 percent to 55.7 riyals before closing 0.6 percent higher. The film importer and movie theater manager said first-half net income advanced to 4.2 million riyals ($1.15 million) from 4 million riyals the year earlier.

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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