Dubai shares rose for the first time in three days on signs the U.S. economy is recovering and as OPEC said it is “happy” with oil prices at current levels.
Emaar Properties PJSC, the United Arab Emirates’ biggest developer, climbed to the highest since Nov. 11. Dubai Islamic Bank, the country’s largest Islamic lender, also advanced. The Dubai Financial Market General Index gained 1.6 percent to 2,198.5. In Qatar, Doha’s DSM 20 Index added 1.8 percent.
Standard & Poor’s 500 Index futures rose 0.9 percent at 5:18 p.m. in Dubai before a report forecast to show U.S. retail sales rebounded in October. U.S. stocks last week climbed for a second week as the Group of 20 nations agreed to maintain economic stimulus efforts and profits at companies from Wal-Mart Stores Inc. to Walt Disney Co. beat analysts’ projections. The MSCI Emerging Markets Index jumped as much as 1.5 percent today.
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