June 20 (Bloomberg) — Dubai’s benchmark stock index rose the most in 10 weeks and Egyptian shares gained, leading a rally in Middle East markets on growing confidence that Europe will contain its debt crisis. Oil gains boosted Gulf shares.
The DFM General Index jumped 3.1 percent, the most since April 11, to 1,547.13, led by Emaar Properties PJSC, the biggest stock in the gauge. The builder of the world’s tallest skyscraper surged 8.6 percent after selling its Hamptons International unit to Countrywide Plc.
Egypt’s EGX 30 Index increased 1.6 percent to 6,519.09 as Telecom Egypt, the largest fixed-line telephone company in the region, gained 2.2 percent. The TA-25 Index of Israeli equities advanced 1.8 percent.
Full story: Dubai Stocks Advance Most in 10 Weeks as Mideast Shares Rally – Bloomberg.com