Bloomberg News

Persian Gulf Stocks: BankMuscat of Oman, Kuwait Finance House

March 27, 2012

Kuwait’s SE Price Index fell 0.4 percent to 6,186.70, the lowest level since March 14, at the 12:30 p.m. close in Kuwait City. Oman’s MSM30 Index lost 0.5 percent.

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

Kuwait Finance House (KFIN) advanced 1 percent to 790 fils. Kuwait’s biggest Shariah-compliant lender plans to restructure, merge or sell unprofitable units, the state-run KUNA news agency reported, citing Chief Executive Officer Mohammed Al-Omar.

BankMuscat SAOG (BKMB) climbed as much as 2.8 percent to 0.593 Omani rial, before trimming gains to close at 0.581 rial. Oman’s decision to cut the interest rate ceiling on personal loans should not have a “big effect” on the country’s banks, Central Bank Executive President Hamud Bin Sangur Al-Zadjali told Al Arabiya television after the market closed yesterday.

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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