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Persian Gulf Stocks: Qatar National Bank and Zain in Kuwait

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July 5 (Bloomberg) -- Dubai’s benchmark DFM General Index rose 1 percent to 1,504.70 at the close in the emirate, bringing the gain for the week to 3.6 percent. Qatar’s QE Index increased 0.2 percent. Saudi Arabia’s market was closed for the weekend.

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

Qatar National Bank SAQ (QNBK QD) rose to the highest since May, gaining 0.9 percent to 133.8 riyals. The country’s largest lender posted a 17 percent increase in second-quarter profit, matching analysts’ estimates.

Mobile Telecommunications Co. (ZAIN KK) dropped the most since May, retreating 2.8 percent to 700 fils. Iraq’s telecommunications regulator fined the Iraqi unit of Kuwait’s largest mobile phone operator for violating license terms.

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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