U.A.E. Shares Rise, Abu Dhabi Snaps Six-Day Drop as Oil Rises; Aldar Gains - Bloomberg

Abu Dhabi’s shares rose, ending a six-day drop, after leaders of the Group of Eight nations said the global economy is strengthening, outweighing concern Europe’s debt crisis is worsening. Oil advanced.

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Aldar Properties PJSC (ALDAR), [] Abu Dhabi’s biggest real-estate developer by market value, advanced a second day. In neighboring Dubai, Emaar Properties PJSC (EMAAR), builder of the world’s tallest skyscraper, increased 2.3 percent. The ADX General Index (ADSMI) climbed 0.2 percent to 2,604.56 at 1:09 p.m. in Abu Dhabi. The DFM General Index (DFMGI) gained 0.3 percent, trimming the loss for the month to 5.9 percent. Israel’s benchmark index advanced.

“The gain in commodities is being priced in,” said Haissam Arabi, chief executive officer at Gulfmena Alternative Investments in Dubai. Volumes are low as the summer season begins, he said.