MIDEAST STOCKS-UAE stocks surge on US-Iran ceasefire agreement

April 8 (Reuters) - Stock markets in the United Arab Emirates surged on Wednesday, after U.S. President Donald Trump agreed to a two-week ceasefire with Iran on Tuesday.

Trump said the last-minute deal was subject to Iran's agreement to pause its blockade of oil and gas supplies through the Strait of Hormuz, which before the war typically handled about one-fifth of global oil shipments. Iranian Foreign Minister Abbas Araqchi said in a statement Tehran would cease counter-attacks and provide safe passage through the waterway, if attacks against it stopped.

Pakistan PM Shehbaz Sharif said in a post on X he had invited Iranian and U.S. delegations to meet in Islamabad on Friday.

Dubai's main market .DFMGI advanced 6.7% in early trade, its highest intraday gain in more than six years, led by gains in heavyweight financial and real estate stocks.

Blue-chip developer Emaar Properties EMAR.DU jumped 11.5% and top lender Emirates NBD Bank ENBD.DU rose 10%.

Abu Dhabi's benchmark index .FTFADGI climbed 4.5%, with the UAE's largest lender First Abu Dhabi Bank FAB.AD rising 15% and real estate giant Aldar Properties ALDAR.AD jumping 10.8%.