Stock markets in Dubai extended gains for the third consecutive session amid a strong oil price and on expectations of a U.S. rate cut, but Abu Dhabi fell marginally ending a three-day rally.
Data on Thursday showed U.S. consumer prices fell in June, stoking speculation that the Federal Reserve will cut interest rates soon.
Oil prices also rose as signs of strong summer demand and easing inflationary pressures in the United States boosted investor confidence.
Brent crude futures were up 52 cents, or 0.6%, to $85.92 a barrel at 1051 GMT.
In Dubai, the main share index (.DFMGI), opens new tab, rose 0.3% led by a 0.9% rise in Dubai's largest lender, Emirates NBD Bank (ENBD.DU), opens new tab and a 0.6% lift in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
Abu Dhabi's index (.FTFADGI), opens new tab ended in the red on the back of a 0.3% decline in country's largest lender First Abu Dhabi Bank (FAB.AD), opens new tab but Fertiglobe (FERTIGLB.AD), opens new tab climbed over 1.7%.
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