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Emaar, Galfar, Red Sea Housing, DP World: 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 advanced 3.6 percent to 8,477.32. Bahrain’s All Share Index gained 0.3 percent and Kuwait’s measure increased 0.7 percent. Saudi Arabia’s gauge retreated 0.3 percent.

DP World Ltd. (DPW DU): The world’s fourth-biggest port operator had its share price estimate increased to $0.65 from $0.50 at UBS AG. Separately, the company’s outlook was raised to “stable” from “negative” at Standard & Poor’s. The shares retreated 0.2 percent to 59.9 cents.

Emaar Properties PJSC (EMAAR UH): The builder of the world’s tallest tower is interested in projects in Qatar after the Gulf Arab state won the right to host the 2022 soccer World Cup, Chairman Mohamed Alabbar told Al Arabiya TV.

Separately, the company’s Indian unit Emaar MGF Land Ltd. will consider selling 500 million rupees ($11.1 million) of bonds tomorrow. Emaar shares gained 1.4 percent to 3.67 dirhams.

Galfar Engineering & Contracting SAOG (GECS OM): The Omani construction company won a 1.4 million-rial ($3.6 million) contract to develop a sewage treatment plant. The shares advanced 1.3 percent to 0.553 rial.

Red Sea Housing Services Co. (REDSEA AB): The Saudi Arabian provider of prefabricated housing said its chairman resigned and appointed Ibrahim al-Madhoun as replacement. The shares declined 1.4 percent to 52 riyals.

Union National Bank PJSC (UNB UH): The lender was dropped from MSCI Barra’s United Arab Emirates Index because of low trading volumes, The National reported, citing an unidentified MSCI spokesman. The shares increased 0.3 percent to 3.14 dirhams.

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