Aldar, Arabian Pipes, Gulf Navigation, NBK: Gulf Equity Preview

Jan. 3 (Bloomberg) -- 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 gained 2.3 percent to 1,668.27. Qatar’s QE Index increased 0.7 percent and Saudi Arabia’s Tadawul All Share Index advanced less than 0.1 percent.

Aldar Properties PJSC (ALDAR UH): Abu Dhabi’s largest developer began construction work on Al Bateen Park development, designed to include 272 apartments and 75 villas, Al-Ittihad reported, citing Deputy Chief Executive Officer Mohammed al-Mubarak. The shares rose 2.2 percent to 2.33 dirhams.

Arabian Pipes Co. (APCO AB): The Saudi maker of steel pipes said its contract with Saudi Aramco was extended for a year. The shares were unchanged at 30 riyals.

Gulf Navigation Holding PJSC (GULFNAV UH): Dubai’s only publicly traded oil-tanker owner acquired a very large crude carrier as part of its expansion in the crude oil market. The shares gained 1.4 percent to 42.9 fils.

National Bank of Kuwait (NBK KK): The country’s largest lender may announce a full-year profit close to 300 million dinars ($1.1 billion), Al-Rai reported, without saying where it obtained the information. The shares were unchanged at 1,440 fils when they last traded on Dec. 30.

Saudi Steel Pipe Co. (SSP AB): The manufacturer of welded pipes also said its contract with Aramco was extended for another year. The shares dropped 2.4 percent to 24.8 riyals

To contact the reporters on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story Shaji Mathew at shajimathew@bloomberg.net