By Md Manzer Hussain
Stock markets in the United Arab Emirates ended higher on Monday, in step with Asian peers, as investors awaited the outcome of U.S.-China trade talks in London in the hope that a deal could boost the global economic outlook.
Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains.
Dubai's benchmark index DFM:DFMGI hit its highest levels since 2008 and settled up 1%, with almost all sectors in positive territory.
Tolls operator Salik Company DFM:SALIK gained 2.3% and Deyaar Development DFM:DEYAAR surged 14.6%.
In Abu Dhabi, the index ADX:FADGI was up for a third straight session and gained 0.1%, lifted by a 1.6% rise in blue-chip developer Aldar Properties ADX:ALDAR and a 1.8% advance in Abu Dhabi's flagship energy firm Abu Dhabi National Energy Company ADX:TAQA.
** Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday
ABU DHABI
ADX:FADGI up 0.1% to 9,748
DUBAI
DFM:DFMGI advanced 1% to 5,593