-- Trading in the United Arab Emirates ended in the red as markets await the release of a key US economic report later in the day.
At the close of Thursday trading, the FTSE ADX General Index was down 0.330%, while the DFM General Index shed 1.45%.
The US Bureau of Economic Analysis will release personal consumption expenditures price index data, which is the Federal Reserve's preferred measure of inflation, for February on Thursday.
"After rising 0.3% in January and 2.8% on an annual basis, the PCE is expected to increase 0.4% in February and 2.8% year-over-year, potentially matching the annual increase at the start of the year," Stifel said in a note. "Excluding food and energy costs, the core PCE is also expected to increase 0.4% in February and 3.0% on an annual basis, potentially marking the smallest annual rise since December."
On the geopolitical front, oil prices rose again amid worries of a fragile ceasefire deal between the US and Iran. Israel launched fresh strikes on Lebanon, with Iran stating that the attacks halted the passage of oil tankers through the Strait of Hormuz.
Also dampening sentiment was US President Donald Trump's threats to impose an immediate 50% tariffs on countries supplying weapons to Iran, Reuters reported.
Back home and on the corporate front, stocks of Two Point Zero Group (ADX:2POINTZERO) closed the session 2.89% in the red. The investment company's subsidiary, E Point Zero Holding, created a joint venture with Adani Green Energy to develop renewable energy projects in India.
Dubai-listed Emirates Integrated Telecommunications (DFM:DU), d/b/a du, secured a new 2 billion-Emirati-dirham facility for general corporate purposes with local and international lenders. Shares of the telecommunications company closed the session 1.54% lower.