Noon update: UAE markets post gains

Stock markets in the United Arab Emirates post gains after Emaar Properties, the largest Arab real estate firm by market value, returned to profit growth in the second quarter.

Emaar gains 0.5 per cent, giving a boost to Dubai's main index, which adds 0.76 per cent to 5,261.77 points.

In Abu Dhabi, Emirates Telecommunications Corp climbs 1.78 per cent, driving the benchmark 0.42 per cent higher to 4,910.42 points.

"Good second-quarter results are helping give a lift to the market," says Samer al-Jaouni, general manager of Middle East Financial Brokerage Co.

"In the past we have seen global markets impact the local market, but now it's going to be local factors that will affect it."