Dubai’s benchmark DFM General Index surged 2.6 percent, the most since March 11, to 1,502.21 at the close in the emirate. Qatar’s QE Index gained 0.7 percent and Saudi Arabia’s Tadawul All Share Index jumped 2.1 percent.
The following shares were active in the Persian Gulf region. Stock symbols are in parentheses.
Dar Al Arkan Real Estate Development Co. (ALARKAN AB) jumped 2 percent to 10.45 riyals, the highest since May 30. Saudi Arabia’s largest property developer by market value rose after the kingdom’s government passed a mortgage law.
Gulf General Investment Co. (GGICO UH) rallied 8.1 percent to 34.8 fils, the highest close since April 1. The investment company said it signed restructuring agreements with all its lenders, completing the process that started early 2011.
Emaar Properties PJSC (EMAAR UH) soared 6.6 percent, the most since Jan. 25, to 3.08 dirhams. The developer of the world’s tallest skyscraper rose on bets its affiliate in Saudi Arabia is poised to benefit from a mortgage law approved yesterday. Emaar Economic City (EMAAR AB) rallied 2.1 percent to 9.95 riyals.