Abu Dhabi shares rose lifted by property and construction stocks, after European policymakers approved a second bailout for Greece to stem the region's debt crisis.
Sorouh Real Estate, the second biggest developer in the emirate, added 1.8 per cent to Dh1.11 a share. RAK Properties jumped 2.7 per cent to 38 fils a share. The Abu Dhabi Securities Exchange General Index added 0.8 per cent to 2525.63 points.
Greece was granted €130 billion euro today after weeks of negotiations by euro-zone finance ministers.
Oil traded in New York for March delivery rose as much as $2.20 to $105.44 a barrel, the highest level since May 5.
Gulf Arab states supply about a fifth of the world's oil.
Dubai's stock-market declined, amid investor profit taking,
Emaar Properties, the region's biggest developer, lost 1 per cent to Dh2.95. Union Properties slumped 2.5 per cent to 38 fils. The Dubai Financial Market General Index is down 0.4 per cent to 1562.70 points. The benchmark has risen 15.6 per cent so far this year.
"Dubai has been the best performing market in the region," said Marwan Shurrab, the chief trader at Gulfmena Investments. "There is low turnover, and very light profit taking. Most of the trading is in Abu Dhabi today."
Elsewhere in the region, Kuwait's measure added 0.4 per cent to 6143.00 points. Bahrain's index lost 0.1 per cent to 1147.40 points. Oman's MSM 30 Index was unchanged at 5675.76 points. Qatar's QE Index was little changed at 8646.54 points. The Saudi Tadawul All-Share Index added 0.5 per cent to 6904.38 points.
halsayegh@thenational.ae
