Mideast Stocks Advance as Oil Heads for Biggest Jump in 3 Months
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Dubai stocks led a rally across most Middle Eastern equities as a rebound gathered pace in global markets and oil headed for the biggest gain since May.
Dubai’s DFM General Index jumped 4 percent to 3,648.45 at the close in the emirate. Saudi Arabia’s Tadawul All Share Index and Abu Dhabi’s ADX General Index both climbed 3 percent, and Qatar’s QE Index posted the biggest three-day advance since December. Brent crude, the benchmark for half the world’s oil, increased 3.7 percent at 1:46 p.m. in London, the most on a closing basis since May 29.