Persian Gulf Stocks: Al-Mal Investment and Herfy Food Services

Dubai’s DFM General Index (DFMGI) rose 0.2 percent and Abu Dhabi’s ADX General Index (ADSMI) added 0.3 percent. Qatar’s QE Index (DSM) was little changed. Saudi Arabia’s Tadawul All Share Index (SASEIDX) retreated 0.5 percent.

The following stocks rose or fell in the Persian Gulf region. Symbols are in parentheses.

Al-Mal Investment Co. (ALMAL KK) gained the most in almost two months, advancing 2.9 percent to 71 fils. The Kuwaiti investment company received approval from the central bank to extend a 10 percent share buyback by six months.

Herfy Food Services Co. (HERFY) gained as much as 4.9 percent to 91 riyals, the highest level on record, before closing 0.6 percent higher. The Saudi Arabian fast-food chain received regulatory approval to raise capital by offering one new share for every nine held.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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