Gulf Stocks: Aldar, Saudi Ceramic and Saudi Investment Bank
The DFM General Index fell 1.5 percent to 1,600.55, the lowest since Sept. 7, at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index lost 0.9 percent. Saudi Arabia’s Tadawul All Share Index gained 0.1 percent.
The following stocks rose or fell in the Gulf. Symbols are in parentheses.
Aldar Properties PJSC (ALDAR UH) tumbled the most since May 25, slumping 7.1 percent to 2.11 dirhams. Abu Dhabi’s biggest property developer agreed to sell assets, including a Ferrari theme park and convertible bonds to the government for 19.2 billion dirham ($5.2 billion).
Saudi Ceramic Co. (SCERCO AB) gained the most since Dec. 22, rising 1.4 percent to 149 riyals. The Saudi Arabian maker of bathroom fixtures and electric water heaters reported an 11 percent increase in fourth-quarter profit to 56.8 million riyal ($15 million).
Saudi Chemical Co. (SCCO AB) surged the most since May 2009, rising 6.8 percent to 45.7 riyals. The Saudi distributor of pharmaceuticals said fourth-quarter profit rose 35 percent to 88 million riyals.
Saudi Investment Bank (SIBC AB) gained to the highest since May 2009, rising 2.2 percent to 23.7 riyals. Saudi Arabia’s fourth-smallest lender by market value reported a fourth-quarter profit of 238 million riyals after a loss of 109 million riyals in the year-earlier period.
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