Bloomberg News

Persian Gulf Stocks: Bank Sohar and Bank Albilad Advanced

January 08, 2012

Jan. 8 (Bloomberg) -- Saudi Arabia’s Tadawul All Share Index rose 0.2 percent to 6,467.61, the highest since Aug. 1, at the 3:30 p.m. close in Riyadh. Oman’s Muscat Securities Market Index rose 0.1 percent.

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

Bank Albilad (ALBI AB) surged to the highest level since July 2010, rising 2.5 percent to 20.5 riyals. Saudi Arabia’s second-smallest bank said fourth-quarter profit surged to 107 million riyals ($29 million) from 4.5 million riyals a year earlier.

Bank Sohar (BKSB OM), an Omani lender, increased 0.6 percent to 0.159 rial, the highest since Dec. 15. Net income in 2011 jumped 42 percent to 14.5 million rials ($38 million) from the year earlier.

--Editor: Inal Ersan

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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