Stock markets in the United Arab Emirates closed higher on Friday, tracking ​gains in global equities, ⁠as investors recovered from two sessions of losses fuelled ‌by renewed hostilities between the United States and Iran.

In global markets, Japan's ​Nikkei rose 1.2% and South Korea's KOSPI leaped 2.5%, while pan-European STOXX 600 ​was up ​0.1%

Dubai's main share index jumped 0.9%, supported by gains in financial and industrial stocks.

Dubai Islamic Bank gained 3.1%, ⁠while top lender Emirates NBD Bank added 1.4%.

Among the gainers, Taaleem Holding climbed 3.5% after reporting a 21% rise in third-quarter net profit to 105.6 million dirhams ($28.75 million).

Separately, Emirates Global Aluminium ​said ‌on Friday that its ⁠Al Taweelah ⁠alumina refinery in Abu Dhabi has restarted producing the feedstock for aluminium ​smelting and would ramp up to 50% ‌capacity within days.

Abu Dhabi's benchmark index ⁠settled 0.5% up, led by a 5.3% surge in telecom operator E& Group and a 0.8% gain in energy shipping firm Adnoc L&S.

E& recorded its highest intra-day gain in over three-and-a-half years after announcing it would sell its entire stake in Vodafone to the investment vehicle of French billionaire Xavier Niel's family in a $5.95 billion deal.

The deal prices Vodafone ‌shares at 112.5 pence, a 15% premium to their ⁠last close of 97.76 pence, and ​will result in a net cash return of about $1.3 billion, the company said.

Oil prices, a key driver for Gulf economies, ​were up ‌0.7% at $76.86 a barrel by 1136 GMT. ($1 = ⁠3.6729 UAE dirham)

(Reporting by ​Mohd Edrees in Bengaluru; Editing by Joyjeet Das)