Gulf Stocks Movers: Aref Investment, Qatar Industrial, Sahara
Qatar’s QE Index rose 1.1 percent to 8,972.94, the highest since September 2008, at the 12:30 p.m. close in Doha. The Dubai Financial Market General Index slipped 0.2 percent. Saudi Arabia’s benchmark stock index increased 0.4 percent.
The following stocks gained or fell in the Gulf. Symbols are in parentheses.
Aref Investment Group (AIG KK) surged the most in three months, jumping 7.9 percent to 68 fils. Al-Anba reported the Kuwait City-based company reached an agreement with Kuwait International Bank to restructure $35 million of debt.
Qatar Industrial Manufacturing (QIMD QD) soared to the highest in five years, advancing 3.9 percent to 58.8 riyals. The investor in makers of building materials, chemicals and paper allocated 150 million riyals ($41 million) this year for investment projects in its annual budget.
Sahara Petrochemical Co. (SPC AB) decreased to the lowest in more than a month, falling 1.3 percent to 23.40 riyals. The manufacturer of chemicals said its Oasis unit will delay the commercial start of operations until the end of the first quarter because of a cooling pipeline fault.
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