Middle East shares gained, sending Abu Dhabi’s stock index to the highest in a month, as Egyptian President Hosni Mubarak’s resignation bolstered investor optimism. Israeli stocks rose the first time in four days.
Dana Gas PJSC, a fuel producer with operations in the North African country, jumped 4.5 percent. Emirates Telecommunications Corp., the telephone-service provider with a unit in Egypt, climbed to the highest in more than three months as full-year earnings topped estimates. The ADX General Index increased 0.6 percent to 2,727.71, the highest since Jan. 13, at the 2 p.m. close in Abu Dhabi. Israel’s TA-25 Index advanced 0.6 percent at 2:38 p.m. in Tel Aviv.
“Investors have now been assured that in the short term there will not be chaos in Egypt,” said Sebastien Henin, who helps oversee $110 million at The National Investor in Abu Dhabi. “Names with exposure to the country are gaining. We should have a strong week across the region.”
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