Bloomberg News

Persian Gulf Stocks: Bank Nizwa in Oman and Etisalat Are Active

June 10, 2012

Dubai’s benchmark DFM General Index (DFMGI) rose 0.2 to 1,467.03 at the 2 p.m. close in the emirate, the highest in more than a week. Qatar’s QE Index (DSM) declined 0.2 percent.

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

Bank Nizwa (BKNZ) jumped as much as 17 percent as the shares of the first Omani Shariah-compliant bank started trading today. The shares, which have a nominal value of 0.100 rial, surged to 0.119 rial before trimming gains to close at 0.115 rial.

Emirates Telecommunications Corp. (ETISALAT) , the phone company known as Etisalat, rose the most in more than four months, increasing 2.8 percent to 9.07 dirhams. The company said it’s unaware of any decision to allow foreign and institutional investors to buy the company’s shares.

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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