Persian Gulf Stocks: Deyaar, Ras Al Khaimah Cement, Saudi Cement
Dubai’s DFM General Index (DFMGI) gained 2.2 percent to 1,466.84, the highest since Sept. 21, at the 2 p.m. close in the emirate. Abu Dhabi’s ADX General Index (ADSMI) increased less than 0.1 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced for a tenth day, the longest winning streak since September 2009.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Deyaar Development PJSC (DEYAAR) rose to the highest since Dec. 14, advancing 4.4 percent to 23.6 fils. The property developer posted a full-year profit of 37.7 million dirhams ($10 million) after a loss a year earlier.
Ras Al Khaimah Cement (RAKCC) slumped the most in more than two weeks, dropping 3.2 percent to 60 fils. The United Arab Emirates-based maker of building supplies said its full-year loss widened to 20 million dirhams from 3.9 million dirhams in the year-earlier period. The company’s board recommended not paying a dividend for 2011.
Saudi Cement Co. (SACCO) rallied to the highest since June 2008, climbing 1.8 percent to 84 riyals. Saudi Arabian cement (ARCCO) companies are in talks to sell as much as 600,000 tons of additional clinker supplies to meet rising demand for the material in the kingdom, Saudi Cement said.
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