Dubai’s shares rose to the highest in more than a month as global markets gained after European central banks moved to ease the region’s debt crisis and the United Arab Emirates increased wages for government employees.
Saudi Arabia and Oman shares retreated for a second day as an unexpected decline in U.S. home sales raised concern about the stability of the global economic recovery. Deyaar Development PJSC pushed Dubai stocks higher.
Middle East shares fell, with Egypt’s gauge dropping to the lowest since November, on concern weak manufacturing data from the U.S. to China will slow the global recovery. Oil lost 8.5 percent last week, pushing Gulf stocks lower.