ABU DHABI: Abu Dhabi’s index closed down on Friday, extending losses into a seventh session amid tensions between Israel and Iran which could lead to a wider regional conflict, while Commercial Bank of Dubai helped Dubai’s index break its five-day losing streak.
Supreme Leader Ayatollah Ali Khamenei said on Friday that Iran and its regional allies would not back down, after an Israeli attack on Beirut that is thought to have targeted the heir apparent to Tehran-backed Hezbollah’s slain leader.
Abu Dhabi’s benchmark index slipped 0.4%, pressured by a decline in IHC-owned companies as Conglomerate Alpha Dhabi Holding and investment firm Multiply Group declined 3.5% and 2.6% respectively.
However, UAE’s largest utility firm Abu Dhabi National Energy Company rose 1.8% after the firm raised $1.75 billion from a two-part bond sale with maturities of 7 and 12 years, fixed income news service IFR reported.
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