Persian Gulf Stocks: Taqa, Oman Cement, Renaissance Services
The following shares were active in the Persian Gulf region. Stock symbols follow company names.
Abu Dhabi National Energy Co. (TAQA) retreated 4 percent, the biggest drop since Aug. 7, to 1.20 dirhams. The utility known as Taqa said full-year profit fell 26 percent to 752 million dirhams ($205 million) as it booked a 528 million- dirham charge related to its Canadian operations and paid higher U.K. taxes.
Oman Cement Co. SAOG (OCOI) dropped the most since Jan. 29, losing 1.2 percent to 0.43 rial. The sultanate’s second- largest maker of the building material said the environment ministry ordered a one-month closure of production line 1 for non-compliance with emission standards.
Renaissance Services SAOG (RNSS) gained 6.4 percent, the most in almost six months, to 0.552 rial. The Oman-based provider of services to the oil and gas industry reported a 14 percent increase in 2011 revenue to 289.9 million rials ($412 million).
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