UAE stock markets ended higher on Friday, gaining for the second week, with Dubai at ​a six-week high ⁠and outperforming its regional peer Abu Dhabi, on prospects of peace ‌in the Middle East. U.S. and Iran are likely to hold peace talks over ​the weekend in Pakistan, while a 10-day ceasefire between Lebanon and Israel has taken ​effect. Hopes of ​peace have driven a global stock rally, while oil, a key component of the Gulf's economies, was pinned below $100 a barrel.

Brent ⁠crude was down 3.13% at $96.28 a barrel by 1144 GMT. U.S. President Donald Trump expressed confidence that an agreement with Iran could soon be reached to end the conflict, and urged the Tehran-aligned Hezbollah group to hold ​its fire.

Any ‌credible path to ⁠easing maritime ⁠risks in the Strait of Hormuz would likely bolster regional risk appetite and support economic ​growth, said George Pavel, general manager at ‌Naga.com Middle East.

Dubai's main share index rose 1%, ⁠led by gains in heavyweight real estate and financial stocks. It gained 4.8% for the week, its biggest in more than nine months. Top lender Emirates NBD Bank jumped 2% on Friday, while blue-chip developer Emaar Properties rose 1.1%. Abu Dhabi's benchmark index edged up 0.03% and logged a weekly rise of 0.8%.

The index was supported by a 0.5% increase in Aldar Properties after the company announced the delivery of 9,000 ‌value rental homes in Mohamed Bin Zayed City and Baniyas, ⁠with a gross development value of 2.8 ​billion dirhams ($762.32 million).

UAE's largest lender First Abu Dhabi Bank also rose 1.6%.

The index gains were tempered by a 0.5% decline in its largest firm, International ​Holding Company, ‌and a 0.6% fall in UAE's third-largest lender Abu ⁠Dhabi Commercial Bank .

($1 = 3.6730 UAE ​dirham)

(Reporting by Mohd Edrees in Bengaluru; Editing by Harikrishnan Nair)