Bloomberg News

Persian Gulf Stocks: Alinma Bank and Renaissance Services

July 10, 2012

Saudi Arabia’s Tadawul All Share Index declined 0.7 percent to 6,713.18, the lowest since July 1 at the 3:30 p.m. close in Riyadh. Oman’s MSM30 Index also dropped 0.7 percent.

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

Alinma Bank (ALINMA) rose as much as 2.3 percent to 13.3 riyals before trimming gains to 13.15 riyals. The Saudi lender posted a 75 percent increase in second-quarter profit to 179 million riyals ($48 million), beating analysts’ estimates.

Renaissance Services SAOG (RNSS) dropped 2.6 percent to 0.453 rial, the lowest level since April 2009. The Oman-based provider of services to the oil and gas industry said a rights issue of mandatory convertible bonds opened today.

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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