Dubai shares rose for the third day in a row in line with global markets, despite a fresh fall in oil prices.
Asian and European markets rose as investors approached the anticipated rise in US interest rates with a spring in their step.
Japan’s Nikkei closed up 2.6 per cent, while the FTSE 100 also rose.
The Dubai Financial Market closed up 2.2 per cent at 2,985.85, a 1.3 per cent rise from the start of the week. The index’s three-day positive streak is its longest since October.
The index heavyweight Emaar Properties had its busiest day of trading since August as investors piled back into the stock. The shares closed up 3.7 per cent at Dh5.53.
In the capital, the Abu Dhabi Securities Exchange General Index rose 1.2 per cent to 4,065.14.
Abu Dhabi Commercial Bank and FGB were the main gainers, ending up 5.4 per cent and 2.6 per cent, respectively.
Shares in Saudi Arabia ended up 1.4 per cent, their second consecutive daily rise.
Equities in the region rose in spite of a fresh fall in oil prices.
Brent crude futures declined more than 2 per cent to around $37.64 a barrel in late afternoon trading local time.
jeverington@thenational.ae
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