Dubai shares rose for a third day, leading Gulf stocks higher, after the emirate’s ruler reassured investors that the sheikhdom’s next debt offering will be “well received.”
Dubai Financial Market, the only gulf stock exchange to sell shares to investors, gained as much as 4.4 percent. Emaar Properties PJSC is poised for its highest close in two weeks. The DFM General Index increased for a third day, the longest winning streak in almost a month, advancing 0.9 percent to 2,173.11 at 12:31 p.m. in Dubai. Abu Dhabi’s measure added 0.7 percent.
“This is a natural reaction to the Sheikh’s speech yesterday to international investors, which reassured them about Dubai being able to repay its debts,” said Yazan Abdeen, a fund manager at ING Investment Management Dubai Ltd.
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