Dubai leads Gulf stocks higher

Major Gulf stock markets rose in early Wednesday trading on hopes of a de-escalation in the Iran conflict, with Dubai leading gains as its 1 billion dirham ($272.3 million) support package took effect, reports Reuters.

President Donald Trump said on Tuesday that the US could end its military campaign within two to three weeks and that Iran is not required to reach a deal to stop the conflict, signaling most clearly yet his intent to bring the month-long war to a close.

Dubai's main share index advanced 2.1 per cent, led by a 4.7 per cent surge in blue-chip developer Emaar Properties and a 5.7 per cent surge in top lender Emirates NBD.