Bloomberg News

Persian Gulf Stocks: Industries Qatar and Kuwait’s Zain Moved

December 01, 2011

Dec. 1 (Bloomberg) -- Qatar’s QE Index rose 0.8 percent, the most since Nov. 9, to 8,662.76 at the 1 p.m. close in Doha. The measure has gained 1.2 percent this week. Kuwait’s gauge increased 0.4 percent.

Markets in the United Arab Emirates are closed today for a national holiday. Saudi Arabia’s market is shut for the weekend.

Industries Qatar QSC (IQCD QD), the Middle East’s second- biggest petrochemicals company, increased 1.2 percent, the most since Nov. 9, to 133.8 riyals. Crude for January delivery rose as much as 0.6 percent to $100.99 a barrel on the New York Mercantile Exchange.

Mobile Telecommunications Co. (ZAIN KK) advanced to a more than one-week high, rising 1.1 percent to 920 fils. Zain Sudan, a unit of Zain, may invest $340 million in operations in South Sudan and Sudan next year to improve its network and expand services, Zain Sudan Chief Executive Officer Elfatih Erwa said yesterday.

--Editors: Shanthy Nambiar, Claudia Maedler

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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