GFH Surges to Three-Month High After Board Change: Dubai Mover

Gulf Finance House climbed to the highest in more than three months as the Bahrain-based investment bank replaced its chairman Essam Janahi by by Ahmed Al-Mutawa. The shares surged 11 percent to 57.3 fils in Dubai, the highest since June 20, bringing the gain this year to 37 percent. Gulf Finance House shares listed in Bahrain rose 7.7 percent and those traded in Kuwait advanced 6.5 percent. Some investors may be taking advantage of the price difference in Gulf Finance House shares by buying in Kuwait and selling in Dubai. In Israel, the TA-25 index gained 1.4 percent, led higher by Perrigo Co., a generic drug maker, and Cellcom Israel Ltd. The gauge dropped 1.1 percent on Oct. 3 in a rebalancing for the entry of Opko Health Inc. into the index.