Bloomberg News

Persian Gulf Stocks: Drake & Scull, Oman Telecommunications

December 13, 2011

Dec. 13 (Bloomberg) -- Saudi Arabia’s Tadawul All Share Index dropped the most since Oct. 3, losing 1.3 percent to 6,191.51 at the 3:30 p.m. close in Riyadh. Oman’s MSM30 Index lost 0.2 percent, snapping its longest winning streak since March last year.

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

Drake & Scull International PJSC (DSI UH) jumped 2.2 percent to 85.4 fils, its highest price since Sept. 21. The Dubai-based construction company said its unit won a contract valued at 142 million dirhams ($39 million) in Egypt.

Oman Telecommunications Co. SAOG (OTEL OM) advanced to the highest close since March 2010, gaining 0.5 percent to 1.336 rials. The country’s biggest telephone company had its price estimate raised 10 percent to 1.59 rials at HC Securities & Investment.

--Editors: Peter Branton, Alan Purkiss

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editors responsible for this story: Claudia Maedler at cmaedler@bloomberg.net; Shaji Mathew at shajimathew@bloomberg.net


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