Persian Gulf Stocks: Mashreqbank of U.A.E., Union Properties
Dubai’s benchmark DFM General Index (DFMGI) declined 1.2 percent, the most since Dec. 21, to 1,435.96 at the 2 p.m. close in the emirate, trimming this week’s gain to 2.1 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Mashreqbank PSC (MASQ) dropped 9.9 percent, the most in more than a year, to 91.45 dirhams. The United Arab Emirates bank controlled by the Al Ghurair family had a 59 percent slump in fourth-quarter profit to 63.6 million dirhams ($17 million), according to Bloomberg calculations based on full-year data.
Union Properties PJSC (UPP) tumbled 9.8 percent, the most since January 2010, to 28.4 fils. The Dubai-based real- estate developer said the full-year net loss widened to 1.57 billion dirhams) from 1.53 billion dirhams a year earlier.
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