Dubai shares headed for the highest close in seven months, leading gains in Persian Gulf markets, after oil rose amid signs the U.S. economy is improving and as European leaders made progress on a second Greece bailout.
Emaar Properties PJSC, developer of the world’s tallest skyscraper, set for the biggest increase in a week. Deyaar Development PJSC surged 5.6 percent. Dubai’s DFM General Index advanced 1.9 percent to 1,545.51, poised for the highest close since July 14, at 11:06 a.m. in the emirate. The Bloomberg GCC 200 Index of Persian Gulf stocks rose 0.3 percent.
“The positive sentiment is coming from the U.S.,” said Nabil Farhat, a partner at Abu Dhabi-based Al Fajer Securities. “The U.S. markets are moving ahead despite the confusion coming out of Greece,” helping lift local shares, he said.
No comments:
Post a Comment