DUBAI: Stock markets in the United Arab Emirates closed lower on Friday as investors turned cautious over fading prospects of a US-Iran truce after talks were called off and Israel escalated attacks in Lebanon.
Switzerland said US talks with Iranian negotiators on a pact to end the Middle East conflict would not take place on Friday, as Vice President JD Vance dropped his travel plans, adding to uncertainty over the prospects for a lasting truce.Dubai’s main market retreated 1.7 percent, snapping a four-session winning streak, dragged down by a 4.4 percent fall in top lender Emirates NBD Bank, while toll operator Salik Company slipped 2.3 percent. However, healthcare and education investment firm Amanat Holdings rose 0.8 percent after completing the acquisition of an additional 10.03 percent stake in Cambridge Health Group for 105 million dirhams (USD28.59 million).
Abu Dhabi’s benchmark index settled 1 percent lower, with most stocks in the index in negative territory.
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