Bloomberg News

Persian Gulf Stocks: Industries Qatar and Sorouh Real Estate

June 11, 2012

Dubai’s benchmark DFM General Index (DFMGI) rose 1.1 percent, the most in three weeks, to 1,483.00 at the 2 p.m. close in the emirate. Qatar’s QE Index (DSM) gained 0.2 percent.

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

Industries Qatar QSC (IQCD) , the Middle East’s second- biggest petrochemicals company, increased 0.8 percent to 134.1 riyals, the highest since May 31. Crude for July delivery rose as much as 3 percent to $86.64 a barrel on the New York Mercantile Exchange.

Sorouh Real Estate Co. (SOROUH) , Abu Dhabi’s second- largest real estate developer, advanced for a sixth day, gaining 1 percent to 1.06 dirhams. Sorouh and Aldar Properties PJSC (ALDAR), the emirate’s biggest real estate company, said the due diligence process for a potential merger will “take a number of months.” Aldar gained 0.9 percent to 1.14 dirhams, the highest since May 2.

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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