Arabian Pipes and Commercial Bank of Qatar: Gulf Equity Preview
The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
The DFM General Index jumped 1.6 percent to 1,630.16. Qatar’s QE Index advanced 0.8 percent and Kuwait’s SE Price Index gained 0.3 percent. Abu Dhabi’s measure lost 0.3 percent.
Arabian Pipes Co. (APCO AB): The Saudi maker of steel pipes won a 37.8 million-riyal ($10 million) contract to supply pipes to carry natural gas produced by Saudi Aramco to a water desalination plant in al-Khobar. The shares rose 3 percent to 30.7 riyals.
Commercial Bank of Qatar (CBQK QD): The Persian Gulf country’s second-biggest bank by assets had its price estimate cut to 92.6 riyals from 101 riyals at Beltone Financial. The shares increased 3.9 percent to 90 riyals.
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