UAE stocks rose at the end of trading today, Friday, as oil prices increased following progress in discussions to raise the government's debt ceiling in the United States. Oil prices rose as the market assessed conflicting messages regarding supplies from Russia and Saudi Arabia ahead of the upcoming OPEC+ meeting on production policy. Brent crude rose by 54 cents to $76.80 per barrel.
The main index of the Abu Dhabi stock exchange increased by 0.6%, breaking a three-session losing streak, supported by a 1.6% jump in the shares of "Etisalat" telecom company.
Shares of First Abu Dhabi Bank, the largest bank in the UAE, rose by 0.8%.
In Dubai, the main index gained 0.4%, ending a three-session losing streak, with shares of Emaar Properties rising by 0.7% and Mashreq Bank by 3.3%.
