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Persian Gulf Stocks: Almarai Co., Oman International Bank

May 29 (Bloomberg) -- Oman’s MSM30 Index 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 AB) 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 OM) rose 1.7 percent to 0.238 rial, the highest level since April 30. The bank’s merger with HSBC Holdings Plc’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

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