Abu Dhabi shares rose to the highest in six months as Waha Capital PJSC said third-quarter profit jumped and after global markets gained last week on speculation the Federal Reserve will help stimulate the economy.
Waha Capital, an Abu Dhabi-based leasing company, increased 2.5 percent and Emirates Telecommunications Corp., the biggest phone company in the United Arab Emirates, gained for a second day. The ADX General Index advanced 0.5 percent to 2,821.01, the highest close since April 25. The Bloomberg GCC 200 Index gained 0.4 percent in Dubai. Israel’s TA-25 Index was little changed.
“Gains in U.S. and European markets last week helped boost investor confidence,” said Ziad Dabbas, a financial analyst at National Bank of Abu Dhabi PJSC, the U.A.E.’s second-largest lender by assets.
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