Shares of Dana Gas jumped 4.2 per cent on Sunday, lifted by the Egyptian prime minister Ibrahim Mahlab’s comments on Thursday that the government would “soon” pay outstanding dues owed to the Sharjah-based energy company.
Other shares in the region took a cue from rising oil prices, which closed at more than $60 on Friday.
The benchmark Abu Dhabi Securities Exchange General Index gained 1.4 per cent to 4,695.34 points led by Dana Gas and blue chips such as Abu Dhabi Commercial Bank and Aldar Properties.
Shares in the capital’s largest developer rose 5.7 per cent to Dh2.74 after it named Talal Al Dhiyebi as the chief development officer.
Meanwhile, Dubai shares also cashed in on the positive sentiment. The Dubai Financial Market General Index added 1.5 per cent to 3,963.28 points on the back of gains in Emaar Properties, which rose 4.5 per cent to Dh7.58 a share and the bourse operator, Dubai Financial Market, the day’s top performer, which increased 4.9 per cent to Dh2.14.
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