Dubai Index Gains Most in Two Weeks on Emirates NBD Earnings

Dubai shares climbed the most in almost two weeks as Emirates NBD PJSC reported third-quarter earnings that beat analysts’ estimates.

Emirates NBD, the United Arab Emirates’ biggest bank by assets, advanced to the highest intraday level in a week. Aramex PJSC, the Middle East’s biggest courier company, added as much as 2.3 percent. The Dubai Financial Market General Index gained 2.9 percent, the biggest jump since Oct. 14, to 2,328.89 at 12:54 p.m. in the emirate.

Better-than-expected earnings from Dubai’s biggest companies are boosting investor confidence. Emaar Properties PJSC, the heaviest weighted member in Dubai’s benchmark index, on Oct. 22 posted a profit that was almost twice as high as analysts estimated. The shares rose as much as 4.5 percent.