Persian Gulf Stocks: Oman Cement, United Development in Qatar
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Oman Cement Co. (OCOI) decreased the most since Nov. 30, falling 2.1 percent to 0.421 rial. The sultanate’s second- largest maker of the building material by market value said full-year profit plunged 49 percent to 12.8 million rials ($33 million).
Saudi Cement Co. (SACCO) surged to the highest since July 2008, rallying 6.5 percent to 78 riyals. The Saudi manufacturer of the building material said its board recommended distributing a second-half dividend of 4.5 riyals a share.
United Development Co. (UDCD) tumbled the most in almost a month, decreasing 4.3 percent to 24.7 riyals. The Qatari investor in infrastructure and energy said a potential stake buyer pulled out after seeking to change the terms of an offer.
To contact the reporter on this story: Zahra Hankir in Dubai at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com