Stock markets in the United Arab Emirates ended higher on Friday, supported by a broad-based gains, with the Dubai index posting its third weekly gain.

Dubai's benchmark stock index rebounded after the previous session of losses to end 0.6% higher, with almost all of its constituents posting gains. Emirates Central Cooling Systems advanced 2.7% and the blue-chip developer Emaar Properties and its unit Emaar Development gained 0.9% and 2.2% respectively. For the week, the index was up for a third week in a row.

The Abu Dhabi benchmark index gained 0.7%, snapping its previous session of losses. For the week, the index was up 0.9%. Investment company Q Holding rose 1.4% and its owner International Holding Co climbed 2.3%, the highest intraday gain in nearly six months. The conglomerate IHC shareholders approved a share buyback programme of up to 5 billion dirhams on Thursday.

  • ABU DHABI gained 0.7% to 9,013
  • DUBAI was up 0.6% to 4,012

(Reporting by Md Manzer Hussain; Editing by Alex Richardson)