Oman shares advanced to the highest in more than two weeks, led by Dhofar International Development & Investment Holding Co. and Al Anwar Holdings SAOG. Qatar Telecom QSC. gained, raising the country’s benchmark index.
Dhofar International surged the most in almost three months after it sold a 2.5 percent stake in Bank Dhofar SAOG. Al Anwar, the sultanate’s investor in manufacturing companies, increased the most since July. Oman’s MSM30 Index gained 0.3 percent to 6,301.83, the highest since Aug. 23, at the 1 p.m. close in Muscat. Qatar’s QE Index advanced 0.8 percent.
The Islamic holy month of Ramadan, when Muslims fast from sunrise to sunset and business activity slows, ends tomorrow with the celebration of Eid. Exchanges in the United Arab Emirates, Kuwait and Saudi Arabia are already shut for the holiday. Oman and Qatar’s bourses will close from Sept. 12.
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