Stock markets in the United Arab Emirates closed on a lower note on Friday as investors exercised caution following the latest round of negotiations between Hamas and Israel.
Abu Dhabi’s benchmark index experienced a 0.3% drop, extending losses into the second session.
This decline came after the largest listed firm in Abu Dhabi, International Holding Company, saw a 0.6% decrease, and the real estate giant Aldar Properties dropped by 1.6%.
Meanwhile, Dubai’s main index dipped by 0.2%, driven by losses in the real estate sector.
Blue-chip developer Emaar Properties slipped by 0.9%, while its construction arm, Emaar Development, saw a decrease of 1.4%.
Among the notable losers was the foreign currency exchange firm Al Ansari Financial Services, which slumped by 1.9% following a 26% decline in its first-quarter net profit to 98.7 million dirhams ($26.88 million).
Despite these declines, the Dubai index recorded weekly gains of 0.7%, marking the end of a five-week losing streak.
Similarly, Abu Dhabi posted a 0.6% increase after three weeks of losses, according to data from LSEG.
