Dubai shares increased the most in almost two weeks led by construction and services companies, such as Drake & Scull International PJSC, which stand to benefit from the regional and global economic recovery. Oil advanced.
Drake & Scull, an engineering contractor for the real- estate industry, climbed the most since Jan. 2. Arabtec Holding Co., the biggest publicly traded builder in the United Arab Emirates, gained for a second day. The DFM General Index rose 1 percent, the most since Jan. 6, to 1,625.53 at 1:18 p.m. in Dubai.
“We are seeing global markets continue their upward trend along with commodity prices,” Omair Ansari, equity strategist at Gulfmena Alternative Investments, said in an e-mailed response to questions. “Dubai-listed corporates are exemplifying their ability to capture the region’s growth story.”
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