DFM rises as Nakheel reaches deal with creditors

Emaar Properties PJSC gained the most since November 9. Union Properties PJSC rose two per cent. Dubai Financial Market's General Index climbed for the first time this week, gaining 1.14 per cent to 1,621.70 points. The measure has lost 10 per cent this year and is headed for its worst annual performance since 2008.

“The announcement means that most probably the debt restructuring will go smoothly without any legal issues,” said Mohamed Khaled Hafez, relationship manager at Prime Emirates LLC in Abu Dhabi.

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Emaar climbed 2.1 per cent to Dh3.46. Union Properties gained the most since December 1 to 36.5 fils. Depa Limited increased 2.9 per cent to 72 cents, the highest in two weeks.

Abu Dhabi Stock Exchange's General Index remained stable and closed at 2,702.28 points.

Qatar's gauge advanced 0.2 per cent and Kuwait's SE Price Index rose 0.3 per cent. Oman's MSM 30 slipped 0.1 per cent. Bahrain's measure was little changed, decreasing less than 0.1 per cent. Saudi Arabia's Tadawul All Share Index increased 0.1 per cent. -