BankMuscat, United Development: Persian Gulf Equity Preview

The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

Saudi Arabia’s Tadawul All Share Index (SASEIDX) gained 1.2 percent, while Qatar’s QE Index (DSM) climbed 0.3 percent. Dubai’s DFM General Index (DFMGI) rose 0.6 percent when it last traded June 29.

BankMuscat SAOG (BKMB) : Oman’s biggest bank by assets had the short-term ratings on its $800 million Euro Medium-Term Note program withdrawn at Moody’s Investors Service. Moody’s withdrew the ratings for its own business reasons, it said. The shares rose 0.4 percent to 0.742 rial.

Mobile Telecommunications Co. (ZAIN KK): Zain Group named Ahmad Al Hanandeh to succeed Abdul Malek Al Jaber as chief executive officer of Zain Jordan. Zain was unchanged at 1,040 fils.

United Development Co. (UDCD) : The real-estate and energy investor in Qatar said it terminated contracts with Building and Construction Real Estate to build two apartment towers. The shares advanced 0.5 percent to 20.51 riyals.

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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