UAE Stock Market Stumbles With Escalations in Middle East Conflict

UAE Stocks - Middle East Conflict

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%.

UAE Stocks – Middle East Conflict

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).

UAE Stocks – Middle East Conflict

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.

Nate O'Hara
Nathan is a seasoned commerce writer with a passion for unraveling the intricacies of the business world and distilling them into engaging narratives. During his academic journey, he delved deep into subjects like economics, marketing, and entrepreneurship, honing his analytical skills and developing a keen understanding of market dynamics.