Dubai’s shares advanced the most in two weeks, leading gains in Persian Gulf shares, after oil surged on optimism that Europe’s debt crisis may be contained, boosting the appeal for riskier assets.
Emaar Properties PJSC (EMAAR), developer of the world’s tallest skyscraper, climbed 1.8 percent. Arabtec Holding Co. (ARTC), the United Arab Emirates’ largest construction company, was set for the biggest gain in more than a week. Dubai’s benchmark DFM General Index (DFMGI) increased 0.8 percent, the biggest intraday gain since June 18, to 1,463.11, at 10:31 a.m. in the emirate. The gauge slumped 12 percent in the second quarter. The Bloomberg GCC 200 Index (BGCC200) of the Persian Gulf region’s top 200 equities rose 0.1 percent as Abu Dhabi’s ADX General Index (ADSMI) gained 0.4 percent.
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