Bloomberg News

Persian Gulf Stocks: Almarai and Renaissance Services Moved

February 28, 2012

Dubai’s DFM General Index (DFMGI) rallied 2.7 percent to 1,698.22, the highest since December 2010. Abu Dhabi’s ADX General Index (ADSMI) gained 0.7 percent and Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.3 percent.

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

Almarai Co. (ALMARAI AB) advanced the most in more than a month, rising as much as 1.7 percent to 103.75 riyals before closing at 102.25 riyals. Saudi Arabia’s largest food producer by market value said it’s looking into “slightly” increasing its stake in a joint venture with PepsiCo Inc.

Renaissance Services SAOG (RNSS) rallied to the highest since Oct. 3, gaining 4.3 percent to 0.632 rial. The provider of services to the oil and gas industry said its board recommended issuing zero-coupon convertible bonds valued at 40 million rials ($104 million).

To contact the reporter on this story: Zahra Hankir in Dubai at

To contact the editor responsible for this story: Claudia Maedler at

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