The DFM General Index (DFMGI) climbed 2.4 percent to 1,962.92, the highest since November 2009, at the close in the emirate. Dubai Islamic Bank PJSC (DIB), the biggest Shariah-compliant lender in the United Arab Emirates, advanced the most since December. 2009. Drake & Scull International (DSI) PJSC rose to the highest since 2012 amid takeover speculation, which the company denied.
Dubai Islamic, which raised $1 billion in perpetual sukuk last month to boost capital, has surged 17 percent since its April 7 announcement that it repaid a 3.75 billion dirham ($1 billion) Finance Ministry loan it took during the global financial crisis. Drake & Scull may report a 10 percent increase in profit this year, after a 42 percent drop in 2012, according to the mean estimate of nine analysts on Bloomberg.
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