Abu Dhabi’s benchmark stock index closed lower on Friday, dragged down by First Abu Dhabi Bank after the United Arab Emirates’ largest lender sad it was no longer evaluating a possible takeover offer for Standard Chartered.

The index declined 0.7%, with conglomerate Alpha Dhabi Holding shedding 1.3%, while state-controlled integrated utility firm Abu Dhabi National Energy Company slipped 0.6%. Shares of First Abu Dhabi Bank dropped 2.3%.

Separately, Abu Dhabi National Oil Company (ADNOC) said on Thursday it would allocate 55 billion ($14.97 billion) dirhams to support development of low-carbon solutions, new energies and decarbonisation technologies across its portfolio by 2030.

Most major Gulf stock markets fall on hawkish Fed

Dubai’s main share index dipped 0.4%, with Sharia-compliant lender Dubai Islamic Bank down 1.1%, while blue-chip developer Emaar Properties dropped 0.7%.