Abu Dhabi Stocks Rise to 2-Week High on Confidence in Earnings

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Abu Dhabi shares rose to the highest this month on investor bets first-quarter earnings in the United Arab Emirates will beat expectations after improving reports from Saudi Arabia. Dubai stocks advanced.

Emirates Telecommunications Co., the larger of two U.A.E. telephone companies, jumped the most in almost two months. Aldar Properties PJSC, Abu Dhabi’s biggest real-estate developer, gained for a second day. Dubai-based developer Emaar Properties PJSC rose to the highest since January after it was upgraded at JPMorgan Chase & Co. The ADX General Index rose 0.6 percent to 2,865.26, the highest since March 31. The DFM General Index climbed 0.5 percent to the highest since April 6.

“Investors are gearing up for first-quarter results,” said Haissam Arabi, chief executive officer of Gulfmena Alternative Investments in Dubai. Results coming out of Saudi Arabia “are better than expected and investors are excited that there will be a similar situation here.”