Emaar Jumps Most in Month as Profit Signals Rebound: Dubai Mover

Emaar Properties PJSC jumped the most in a month after the Middle East’s second-biggest developer by market value followed Emirates NBD PJSC in posting profit that beat estimates, boosting confidence in Dubai’s recovery.

Emaar, developer of the world’s tallest tower, gained 2.8 percent to 5.90 dirhams at the close Dubai as volume jumped to 23 million shares, 43 percent above the three-month daily average. Emirates NBD rallied 4.7 percent, taking its increase to 11 percent since the largest bank in the United Arab Emirates reported earnings on July 22. The benchmark DFM General Index rose 2 percent, bringing the 2013 gain to 58 percent, the most after Ghana’s index among 93 benchmarks tracked by Bloomberg.