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Persian Gulf Stocks: Alhokair, Industries Qatar, Saudi Basic

Nov. 21 (Bloomberg) -- Abu Dhabi’s ADX General Index fell to the lowest since Oct. 24, retreating 0.4 percent to 2,450.25 at the 2 p.m. close in the emirate. Dubai’s DFM General Index and Saudi Arabia’s Tadawul All Share Index decreased 0.9 percent.

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

Fawaz Abdulaziz Alhokair & Co. (ALHOKAIR AB) dropped to the lowest since Oct. 26, losing 1.3 percent to 57 riyals. The clothing retailer in Saudi Arabia may tap the debt markets in 2012 as the company looks at acquisitions, Group Chief Financial Officer Abdulrahman Albizioui said.

Industries Qatar QSC (IQCD QD), the Middle East’s second-biggest petrochemicals company, dropped the most since Sept. 22, losing 2.6 percent to 131 riyals. Saudi Basic Industries Corp. (SABIC AB), the world’s largest petrochemicals maker, decreased 2.9 percent to 92.25 riyals. Crude for January delivery declined as much as 2.1 percent to $95.61 a barrel on the New York Mercantile Exchange.

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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