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Persian Gulf Stocks: Dubai Islamic Bank, Emaar, Raysut Cement

Oct. 30 (Bloomberg) -- Dubai’s DFM General Index surged 2.6 percent, the most since March 13, to 1,415.78 at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index rose 1.5 percent and Qatar’s QE Index gained 1 percent.

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

Bank of Sharjah (BOS UH) declined for a second day, falling 1.2 percent to 1.69 dirhams. The United Arab Emirates-based lender posted a 50 percent decline in third-quarter profit to 58.3 million dirhams ($15.9 million).

Dubai Islamic Bank PJSC (DIB UH) climbed 3.1 percent, the most since April 20, to 2.02 dirhams. The U.A.E.’s biggest bank complying with Shariah rules posted a 10 percent increase in third-quarter profit to 298 million dirhams.

Emaar Properties PJSC (EMAAR UH) surged the most since March 13, soaring 5.8 percent to 2.75 dirhams. Third-quarter profit at the Dubai-based developer of the world’s tallest building beat estimates.

Raysut Cement Co. (RCCI OM) slumped to the lowest since February 2009, sinking 3.4 percent to 0.892 rial. The biggest Omani maker of the building material by market value said nine-month profit before tax fell to 11.7 million rials ($30 million) from 19 million rials a year earlier.

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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