Mashreqbank leads Dubai index higher

Dubai index closed higher on Friday, boosted by a 15 per cent surge in lender Mashreqbank, while Abu Dhabi stocks slipped on volatility in crude markets, reports Reuters.
Middle East crude benchmarks were mixed on Friday, with Oman and Murban lower and Dubai edging higher on the last trading session of September.
In Dubai, the main share index rose 0.7 per cent, driven by gains in heavyweight real estate and financial stocks as Blue-chip developer Emaar Properties jumped 1.4 per cent and Dubai developer's construction unit Emaar Development advanced 2.9 per cent.
Mashreqbank shares have gained following a report on Wednesday that the lender has received bids from several companies to purchase stake in its payment unit.
Among other stocks, low-cost carrier Air Arabia gained 1.5 per cent after its unit announced a new direct flight to Moscow.
However, the index registered a monthly loss of 3 per cent, its biggest drop in a month since June.