Stock markets in the United Arab Emirates rose on Tuesday, in line with oil prices, after US President Donald Trump postponed strikes on Iran's energy infrastructure.
On Monday, Trump postponed the bombing of Iran’s power plants and energy infrastructure because of what he described as productive talks with Iranian officials. Iran later denied that it had engaged in negotiations with the United States.
"The stop on attacks for five days is only on their energy sites," a US official told Semafor.
The Semafor report added that Israel was not party to Washington's talks with Tehran.
Dubai's main index climbed 4% in early trade, lifted by a 5.3% jump in its blue-chip developer Emaar Properties and a 4.5% rise in state-run utility firm Dubai Electricity and Water Authority.
Abu Dhabi's benchmark index gained 1.2% in early trade, with utility firm Abu Dhabi National Energy (TAQA) advancing 5.1%, while real estate giant Aldar properties increased 3.2%.
Oil prices - a key catalyst for Gulf's financial markets - were up 2.77 % at $102.66 a barrel by 0643 GMT.
