UAE shares mixed on weak oil

DUBAI: Stock markets in the United Arab Emirates put in a mixed performance on Friday on hopes a ceasefire deal in Gaza could ease geopolitical tension in the region, while weaker oil prices dented sentiment.

Thousands of displaced Palestinians streamed back towards their abandoned homes on Friday after a ceasefire between Israel and Hamas went into effect and Israeli troops began pulling back from parts of Gaza.

Dubai’s benchmark index was up 0.4 percent, with almost all sectors in the positive territory. Gulf Navigation Holding

gained 2.5 percent and Taaleem Holdings rose 5.4 percent after the schools operator reported on Thursday a 20 percent increase in full-year net profit and raised annual dividend by 25 percent to AED 0.15 per share.