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Persian Gulf Stocks: Industries Qatar and Sorouh Real Estate

June 11 (Bloomberg) -- Dubai’s benchmark DFM General Index rose 1.1 percent, the most in three weeks, to 1,483.00 at the 2 p.m. close in the emirate. Qatar’s QE Index gained 0.2 percent.

The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.

Industries Qatar QSC (IQCD QD), the Middle East’s second-biggest petrochemicals company, increased 0.8 percent to 134.1 riyals, the highest since May 31. Crude for July delivery rose as much as 3 percent to $86.64 a barrel on the New York Mercantile Exchange.

Sorouh Real Estate Co. (SOROUH UH), Abu Dhabi’s second-largest real estate developer, advanced for a sixth day, gaining 1 percent to 1.06 dirhams. Sorouh and Aldar Properties PJSC, the emirate’s biggest real estate company, said the due diligence process for a potential merger will “take a number of months.” Aldar gained 0.9 percent to 1.14 dirhams, the highest since May 2.

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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