Dubai Shares Climbs to Two-Month High as Emaar Gains; Oman Rises
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Dubai’s benchmark stock index climbed to the highest in more than two months amid investor speculation Emaar Properties PJSC’s second-quarter earnings may beat estimates.
Emaar, the developer of the world’s tallest skyscraper in Dubai, advanced to the highest since May 1. Deyaar Development PJSC, a Dubai-based property developer, closed at the highest since June 13. The benchmark DFM General Index climbed 0.9 percent to 1,516.53, the highest level since May 9, at the 2 p.m. close in the emirate. Oman’s measure gained 0.6 percent after BankMuscat SAOG, the country’s biggest bank by assets, reported a 20 percent increase in first-half profit.