Persian Gulf Stocks: Dubai Islamic Bank, Emaar, Raysut Cement
Dubai’s DFM General Index (DFMGI) 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 (ADSMI) rose 1.5 percent and Qatar’s QE Index (DSM) gained 1 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Bank of Sharjah (BOS) 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) 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) 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) 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.
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