Advanced Petrochemicals and Qatar Telecom: Gulf Equity Preview

The following stocks may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.

Qatar’s QE Index rose 0.5 percent to 8,794.83, the highest level since September 2008. The Dubai Financial Market General Index declined 1 percent, while Saudi Arabia’s Tadawul All Share Index increased 0.1 percent.

Advanced Petrochemicals Co. (APPC AB): The Saudi Arabian petrochemical maker said it will distribute a second-half dividend of 1 riyal (27 cents) a share. The stock gained 0.7 percent to 28.1 riyals.

Al-Ahsa Development Co. (AADC AB): The Saudi Arabian investment firm said it earned 77.5 million riyals ($21 million) from the sale of land. The profit will be reflected in fourth- quarter earnings. The shares decreased 1.5 percent to 10.15 riyals.

Qatar Telecom QSC (QTEL QD): The country’s largest publicly-traded company by revenue said it is in talks with the Qatar Investment Authority, the Persian Gulf country’s sovereign wealth fund, to form a joint investment fund. The shares declined 0.1 percent to 180 riyals.

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 in Dubai at cmaedler@bloomberg.net

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