Shares across the Arabian Gulf rose on Sunday following a global rally on Friday.
European markets followed their Asian counterparts into positive territory at the end of last week, amid increasing speculation that the US Federal Reserve may not raise interest rates until next year.
Regional bourses were further boosted on Sunday by Brent crude, which closed last week up 9.4 per cent at US$52.65 per barrel, its best week since the end of August, despite dipping on Friday.
The Dubai Financial Market General Index inched up 0.1 per cent to 3,713.42 even though trading volumes were slightly below average.
GFH was among the most active in terms of value and volume, after the company said that the credit ratings agency Fitch had left the long-term issuer default rating at B-. GFH ended up 2.7 per cent at 55.8 fils.
Gulf Navigation and Aramex were among the other main gainers, rising 4.7 per cent and 1.8 per cent respectively.
Emaar Properties slipped 0.4 per cent to Dh6.90.
In the capital, the Abu Dhabi Securities Exchange General Index closed 0.4 per cent higher at 4,565.49.
FGB rose 0.7 per cent to Dh14.05, while Etisalat edged up 0.6 per cent to Dh14.85.
The telecoms operator appeared unaffected by news that Mobily, its Saudi subsidiary, was suspended by the Capital Market Authority as it awaits a response to initial findings of a regulatory panel investigating its revised earnings over a period of two years.
Union National Bank and Abu Dhabi Commercial Bank were among the laggards, losing 1.1 per cent and 0.5 per cent respectively.
Bahrain was the only regional index not to rise on the day, finishing unchanged.
jeverington@thenational.ae
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