Abu Dhabi stocks at 11-month high

Abu Dhabi stocks advanced to an 11-month high yesterday as oil hit US$76 a barrel and after an overnight rally in the US saw the Dow break the 10,000 barrier for the first time this year.

Most Gulf markets rose following US stock market gains on Wednesday that sent the Dow Jones Industrial Average Index above 10,000 for the first time in a year on better than estimated earnings at JPMorgan Chase and Intel.

The rally boosted investor confidence that the global economy is slowly emerging from recession.