MIDEAST STOCK-UAE equities gain as reports of US-Iran ceasefire plan lift sentiment

March 25 (Reuters) - Stock markets in the United Arab Emirates opened higher on Wednesday, supported by hopes for a ceasefire after reports that Washington had submitted a 15-point settlement proposal to Tehran aimed at ending the war.

U.S. President Donald Trump said on Tuesday that efforts to negotiate an end to the conflict were making progress. A source confirmed to Reuters that the United States had sent Iran the proposal, while Israel's Channel 12, citing sources, reported that Washington was seeking a month-long ceasefire to allow discussions on the plan.

Tehran denied that any direct talks had taken place, and the official IRNA news agency quoted an armed forces spokesperson on Wednesday as saying the United States was "negotiating with itself."

Dubai's main share index .DFMGI gained 2.9%, with blue-chip developer Emaar Properties EMAR.DU advancing 3.4% and a top lender Emirates NBD ENBD.DU climbing 2.9%.

In Abu Dhabi, the index .FTFADGI was up 1.1%, with Aldar Properties ALDAR.AD climbing 2.5%.