Persian Gulf Stocks: Drake & Scull, Oman Telecommunications

Saudi Arabia’s Tadawul All Share Index dropped the most since Oct. 3, losing 1.3 percent to 6,191.51 at the 3:30 p.m. close in Riyadh. Oman’s MSM30 Index (MSM30) lost 0.2 percent, snapping its longest winning streak since March last year.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Drake & Scull International PJSC (DSI UH) jumped 2.2 percent to 85.4 fils, its highest price since Sept. 21. The Dubai-based construction company said its unit won a contract valued at 142 million dirhams ($39 million) in Egypt.

Oman Telecommunications Co. SAOG (OTEL) advanced to the highest close since March 2010, gaining 0.5 percent to 1.336 rials. The country’s biggest telephone company had its price estimate raised 10 percent to 1.59 rials at HC Securities & Investment.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editors responsible for this story: Claudia Maedler at cmaedler@bloomberg.net; Shaji Mathew at shajimathew@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.