DP World stocks surge ahead following the announcement from Iran and western nations that a nuclear deal has been reached.
DP World, which trades on the NASDAQ Dubai exchange, surged 6.5% to Wednesday to close at US $23.65 on expectations that the lifting of US and EU sanctions on Iran will significantly benefit the company.
DP World’s domination of Middle East markets came on a generally favorable tide that saw Gulf stock markets edged up across the board, supported by rebounding oil prices and second-quarter earnings.