Bloomberg News

Persian Gulf Stocks: Qatar Telecom and Renaissance Services

June 06, 2012

Dubai’s benchmark DFM General Index (DFMGI) gained for a second day, rising 0.2 percent to 1,452.38 at 1:32 p.m. in the emirate. Qatar’s QE Index (DSM) rose 0.1 percent.

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

Qatar Telecom QSC (QTEL QD) advanced as much as 0.9 percent to 113 riyals before trading at 112.3 riyals. The country’s biggest company by revenue doubled its stake in Iraqi mobile operator Asiacell by purchasing shares from MerchantBridge & Co. and an “Iraqi partner,” Chief Executive Officer Nasser Marafih said.

Renaissance Services SAOG (RNSS) gained the most in a week, rising 0.6 percent to 0.518 rial. The Oman-based provider of services to the oil and gas industry said it appointed Rene Kofod-Olsen as chief executive officer of its Topaz Energy & Marine Ltd. unit.

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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