Oman’s benchmark stock index rose to the highest in more than a week after a report the central bank will discuss a possible merger between the local unit of HSBC Holdings Plc (HSBA) and Oman International Bank SAOG. (OIBB)
Oman International surged the most since October, rising 3.7 percent. Transgulf Investment Holding Co. (TGII), a food, packaging and financial services company, climbed to the highest in more than a year. The MSM30 Index (MSM30) advanced 0.6 percent to 5,957.76, the highest since March 14, at the 1 p.m. close in Muscat, taking this week’s gain to 0.1 percent. The measure has added 4.6 percent this year.
Oman’s central bank will discuss the possible merger between Oman International and the HSBC unit on March 25, the regulator said in an e-mailed statement after the close of trading today. AlWatan newspaper earlier reported the plan. A Dubai-based spokesman for HSBC, who didn’t want to be identified because of company policy, declined to comment.
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