UAE markets gain despite stalled US-Iran peace talks
- Dubai's main share index rose 0.9%
Stock markets in the United Arab Emirates closed higher on Friday, with Dubai outperforming its regional peer despite fading hopes for a diplomatic breakthrough in the U.S.-Israeli conflict with Iran.
The Hezbollah rejected a new ceasefire in Lebanon on Thursday and Israel said it would not withdraw troops from the country, undermining U.S. President Donald Trump’s efforts to halt fighting there and reach a peace deal with Tehran.
Dubai’s main share index rose 0.9%, supported by gains in industrial and utilities sector stocks.
Toll operator Salik Company jumped 1.6%, while Emirates Central Cooling Systems increased 2.5%.
Abu Dhabi’s benchmark index settled 0.3% up, with the largest utility firm Abu Dhabi National Energy advancing 6.2%.
Alef Education gained 1% after the firm completed full migration of its digital learning ecosystem to Microsoft Azure with Core42’s sovereign cloud capabilities.
Brent crude was down 0.32% at $94.73 a barrel by 1232 GMT.
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