Dubai’s shares rose to the highest level in a week, led by Dubai Islamic Bank PJSC, after European government officials and central bankers took steps to ease the region’s debt crisis and oil advanced. Qatari shares gained.
Dubai Islamic, the biggest Shariah-compliant lender in the emirate, climbed 1.5 percent. Air Arabia PJSC, the Middle East’s biggest low-cost airline, increased for the second time in three days. The DFM General Index added 0.3 percent to 1,471.58, the highest since Sept. 11, at the 2 p.m. close in the emirate. Qatar’s QE Index rallied the most in two weeks.
“Stock prices are mainly positive today after a rebound in global equities markets,” said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities. “However, the volume of trades is still weak, reflecting weak liquidity in the system.”
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