Persian Gulf Stocks: Arabian Pipes and Dubai’s Emaar Properties

Dubai’s DFM General Index (DFMGI) rose 0.6 percent, the most since June 15, while Abu Dhabi’s ADX General Index (ADSMI) fell 0.3 percent. Saudi Arabia’s Tadawul All Share Index (SASEIDX) gained 0.7 percent.

The following stocks rose or fell in the Persian Gulf region. Symbols are in parentheses.

Arabian Pipes Co. (APCO) surged the most since March 27, rallying 9.8 percent to 33.5 riyals. The Saudi Arabian maker of steel pipes won a contract valued at about 500 million riyals ($133 million) to supply pipes to Petroleum Development Oman.

Emaar Properties PJSC (EMAAR) advanced the most in two weeks, rising 2 percent to 3.02 dirhams. The United Arab Emirates government extended the visa period for real-estate investors to three years from six months. Emaar is the developer of the Burj Khalifa, the world’s tallest skyscraper.

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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