Persian Gulf Equity Movers: Arabtec, HSBC Bank Oman, UABClaudia Maedler
Dubai’s DFM General Index gains 1% to 1,975.79 at the close in the emirate as 10 stocks rise, 8 fall and 13 are unchanged. Index up 5.1% in 5 days, best weekly performance since January. Abu Dhabi ADX General Index +0.3%; Oman’s gauge +0.4%.
ADVANCERS: * Arabtec (ARTC UH) +3.3% to highest since March 3 on bets shrs are cheap ** Stock lagger in comparison to market, trades at “attractive” valuation: Marwan Shurrab, vice-president at Dubai-based Gulfmena Investments * HSBC Bank Oman (HBMO OM) +4.2%, most since Feb. 4 and 2nd-best performer on BGCC200 Index
DECLINERS: * United Arab Bank (UAB UH) -3.8%, most since March 10