Aldar Properties and Sorouh Real Estate rose after both companies said they "remain in ongoing due diligence" over their proposed $13bn merger, propping up the capital's index in early trading.
"A decision on whether to recommend a merger to shareholders will follow the completion of these discussions which are at an advanced stage," the companies said in a joint statement to the Abu Dhabi Securities Exchange (ADX).
Aldar shares rose 0.7 per cent to Dh1.32 each before paring early gains, while Sorouh advanced 0.8 per cent to Dh1.25 each.
The two companies announced in March they were studying the possibility of a merger with the "blessing" of the Abu Dhabi Government.
Recent media reports had quoted senior Sorouh executives saying that the deal could be proposed to shareholders within "within a month."
Bankers with knowledge to the deal said they expect completion by the first quarter of 2013.
But sentiment was poor, with gains for Sorouh and telecoms giant Etisalat masking a despondent mood across the Emirates.
The Dubai Financial Market General Index fell 0.45 per cent to 1,601.66, while the Abu Dhabi Securities Exchange General Index rose 0.1 per cent to 2,638.23.
Etisalat rose 0.8 per cent, almost single-handedly keeping the capital's market measure in the green.
Asian markets fell on dwindling growth forecasts as the Chinese economy cools, with the Nikkei 225 falling 0.1 per cent to 8,786.05 and the Hang Seng Index up 0.3 per cent at 20,840.38.
The Reserve Bank of Australia unexpectedly cut its main benchmark interest rate by 25 basis points to 3.25 per cent this morning.
Oil prices cooled slightly, with Brent crude futures down 4 cents to $112.25 per barrel.
[ ghunter@thenational.ae ]
Indika
Developer: 11 Bit Studios
Publisher: Odd Meter
Console: PlayStation 5, PC and Xbox series X/S
Rating: 4/5
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
Our Time Has Come
Alyssa Ayres, Oxford University Press
Stan Lee
Director: David Gelb
Rating: 3/5
The five pillars of Islam
Roll of Honour, men’s domestic rugby season
West Asia Premiership
Champions: Dubai Tigers
Runners up: Bahrain
UAE Premiership
Champions: Jebel Ali Dragons
Runners up: Dubai Hurricanes
UAE Division 1
Champions: Dubai Sharks
Runners up: Abu Dhabi Harlequins II
UAE Division 2
Champions: Dubai Tigers III
Runners up: Dubai Sharks II
Dubai Sevens
Champions: Dubai Tigers
Runners up: Dubai Hurricanes
Representing UAE overseas
If Catherine Richards debuts for Wales in the Six Nations, she will be the latest to have made it from the UAE to the top tier of the international game in the oval ball codes.
Seren Gough-Walters (Wales rugby league)
Born in Dubai, raised in Sharjah, and once an immigration officer at the British Embassy in Abu Dhabi, she debuted for Wales in rugby league in 2021.
Sophie Shams (England sevens)
With an Emirati father and English mother, Shams excelled at rugby at school in Dubai, and went on to represent England on the sevens circuit.
Fiona Reidy (Ireland)
Made her Test rugby bow for Ireland against England in 2015, having played for four years in the capital with Abu Dhabi Harlequins previously.
The biog
Full name: Aisha Abdulqader Saeed
Age: 34
Emirate: Dubai
Favourite quote: "No one has ever become poor by giving"
Fixtures
Wednesday, April 3
Arsenal v Luton Town, 10.30pm (UAE)
Manchester City v Aston Villa, 11.15pm (UAE)
Thursday, April 4
Liverpool v Sheffield United, 10.30pm (UAE)