Persian Gulf Stocks: Almarai Co., Oman International Bank

Oman’s MSM30 Index (MSM30) gained 1 percent to 5,753.97, the highest level since May 8, at the 1 p.m. close in Muscat. Saudi Arabia’s Tadawul All Share Index fell 0.3 percent.

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

Almarai Co. Ltd. (ALMARAI) climbed as much as 2.2 percent to 69 riyals, before trimming gains to 68.25 riyals. Saudi Arabia’s largest food producer said its board approved a 15.7 billion-riyal ($4.2 billion) five-year investment program to boost output and develop products, according to a statement to the Saudi bourse.

Oman International Bank SAOG (OIBB) rose 1.7 percent to 0.238 rial, the highest level since April 30. The bank’s merger with HSBC Holdings Plc (HSBA)’s operations in the Persian Gulf country is on schedule, Al Watan newspaper reported, without saying how it obtained the information.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

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

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.