BANGALORE: UAE markets outperformed Gulf markets on Tuesday as they reopened after the holiday for their first chance to price in Sunday’s preliminary US-Iran peace accord.
US President Donald Trump said on Monday the two countries had signed a preliminary agreement, although details have yet to be made public. Both sides said a permanent truce remains subject to further negotiations.
On Monday, a senior Iranian official said Iran would freeze its nuclear activity until a final agreement, and refrain from further uranium enrichment or expansion of nuclear facilities.
Dubai’s main index jumped 1.7 percent.
Abu Dhabi’s benchmark index gained 1.2 percent, with the UAE’s largest lender First Abu Dhabi Bank rising 0.7 percent and real estate giant Aldar Properties climbing 4.8 percent.
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