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Persian Gulf Stocks: Emaar, Emirates NBD, Sabic, Saudi Kayan

July 15 (Bloomberg) -- Dubai’s DFM General Index gained 0.8 percent, the most since July 5, to 1,502.54 at the close in the emirate. Saudi Arabia’s Tadawul All Share Index declined 0.6 percent.

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

Emaar Properties PJSC (EMAAR UH) climbed 1.6 percent to 3.15 dirhams, the highest level since May 2. The developer of the world’s tallest tower in Dubai said it received orders of $4.65 billion last week when it raised $500 million from the sale of Islamic bonds.

Emirates NBD PJSC (EMIRATES UH) gained 2.7 percent, the most since June 26, to 2.70 dirhams. Banks in the United Arab Emirates will be required to comply with four so-called “liquidity ratios” to help them withstand market disruptions and avoid a cluster of debt payments, according to new central bank rules. Emirates NBD is the biggest U.A.E. bank by assets.

Saudi Basic Industries Corp (SABIC AB) retreated 1.7 percent to 85.25 riyals, the lowest close since March 2011. The world’s largest petrochemicals maker, known as Sabic, may report a 15 percent drop in second-quarter profit to 6.86 billion riyals ($1.8 billion) according to the mean estimate of six analysts on Bloomberg.

Saudi Kayan Petrochemical Co. (KAYAN AB) tumbled 6.8 percent to 13.05 riyals, the lowest level since July 2009. The Saudi company, a unit of Sabic, said its net loss increased to 328.3 million riyals from 16 million riyals a year earlier. The mean estimate of five analysts was for a profit of 101 million riyals, according to data compiled by Bloomberg.

To contact the reporter on this story: Alaa Shahine in Dubai at

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

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