Dubai Shares Rise Most in Week on MSCI Optimism, European Deal
This article is for subscribers only.
Dubai shares rose the most in a week amid optimism the United Arab Emirates may be upgraded to emerging-market status by MSCI Inc. this week and as European leaders agreed on measures to contain the region’s debt crisis.
Emaar Properties PJSC, the builder of the world’s tallest skyscraper in Dubai, climbed for a third day. Drake & Scull International PJSC rose to the highest level in a month after its Saudi Arabian unit won a contract. The benchmark DFM General Index advanced 0.9 percent, the biggest gain since Dec. 4, to 1,396.97 at the 2 p.m. close in Dubai. Abu Dhabi’s ADX General Index rose 0.7 percent. Israel’s TA-25 Index increased 1.5 percent, the most since Dec. 5.