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Persian Gulf Equity Preview: BankMuscat and Saudi Cooperative

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Sept. 12 (Bloomberg) -- The following stocks may rise or fall in Persian Gulf markets. Stock symbols are in parentheses and prices are from the last close.

Dubai’s DFM General Index declined 0.5 percent to the lowest since Aug. 25 at the 2 p.m. close in the emirate. Saudi Arabia’s Tadawul All Share Index was little changed.

(For Middle East Daybook NI GULFDAYBK BN <GO>)

BankMuscat SAOG (BKMB OM): SMN Power Holding SAOG, a venture between International Power Plc, Mubadala Development Co. and Oman’s National Trading Co., started an initial share sale of a 35 percent stake in the company. BankMuscat, Oman’s biggest bank by assets, is the financial adviser. The shares fell 0.6 percent to 0.686 rial.

Saudi Cooperative IAIC Insurance Co. (SALAMA AB): The Islamic insurer known as Salama obtained approval for 25 outlets. The shares rose 0.7 percent to 31.1 riyals.

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

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