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Persian Gulf Stocks: Arriyadh, Tamweel and Kuwait Finance

Sept. 26 (Bloomberg) -- Saudi Arabia’s Tadawul All Share Index rose 0.2 percent, the first increase since Sept. 20, at 1:56 p.m. in Riyadh. The Kuwait Stock Exchange Unweighted Index increased 0.4 percent, while Abu Dhabi’s gauge lost 0.2 percent.

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

Arriyadh Development Co. (ADCO AB) advanced the most in almost a week, rising 1 percent to 15.7 riyals. The Saudi Arabian real-estate company named Ali al-Hassoun chief executive officer.

Kuwait Finance House (KFIN KK) gained the most in almost two weeks, jumping 1.1 percent to 910 fils. The Kuwait-based financial services company said its unit in Bahrain is leading efforts to merge three Islamic lenders into a bank with capital of $400 million.

Tamweel PJSC (TAMWEEL UH) dropped to the lowest on record, losing 0.7 percent to 74.3 fils. Dubai’s ruler issued a decree to transfer all cases filed against the mortgage company to the Dubai Court of First Instance.

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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