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Gulf Stocks Movers: Heavy Engineering and Industries Qatar

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Dec. 2 (Bloomberg) -- Qatar’s QE Index increased 0.7 percent, the most since Nov. 22, to 8,184.91 at the 12:30 p.m. close in Doha. Oman’s gauge advanced 0.4 percent and Bahrain’s benchmark stock index retreated 1.1 percent.

The following stocks gained or fell in the Gulf. Symbols are in parentheses.

Heavy Engineering Industries & Shipbuilding Co. (SHIP KK) gained 1.4 percent to 365 fils. The Kuwait-based company signed a 16.2 million-dinar ($57.4 million) contract with Kuwait Oil Co. to build pumping stations and pipelines for Shuaiba and Al-Zour power plants.

Industries Qatar (IQCD QD) rose as much as 2.4 percent to 131.8 riyals before closing at 129.5 riyals. Crude oil for January delivery rose as much as 0.4 percent to $87.10 a barrel in electronic trading on the New York Mercantile Exchange. Industries Qatar is the second-biggest petrochemicals maker in the Middle East.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net or

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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