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Dubai's DFM General Index rose 3.84%, with Emaar Properties soaring, as UAE equities rebounded on US-Iran peace deal optimism.

Equities

IEA: US-Iran Conflict Re-escalation Could Upend Expected Oil Market Surplus in 2027

The expected oil market surplus in 2027 could be upended by the recent re-escalation of the US-Iran conflict after the interim ceasefire deal was breached, leading to a renewed increase in oil prices, according to the International Energy Agency.In its July oil market report published Friday, the IEA said global oil demand is on the road to recovery, expecting it to increase by more than 8 million barrels per day by October from a low of 97.9 million barrels per day in May. Nonetheless, the agency forecasts demand will decline by 1 million barrels of oil per day in 2026 before rebounding by 2 million barrels per day in the next year.Meanwhile, global supply is projected to drop by an average of 3.7 million barrels of oil per day to 102.6 million barrels per day in 2026, assuming that renewed hostilities between the US and Iran quickly de-escalate. Looking ahead, supply is anticipated to increase by 7.5 million barrels per day next year if transit volumes rise."While the global oil market balance looks set to swing back to surplus towards the end of the year, the forecast hinges on the assumption that tanker flows through the [Strait of Hormuz] will gradually recover, allowing producers to restart fields and refiners in the Middle East and elsewhere to resume product shipments. Renewed exchanges of fire in the Gulf this week highlight the risks of not reaching a lasting peace agreement, which is a must for the normalisation in oil markets," the IEA noted.

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Asia Markets

UAE Equities Slide as Geopolitical Risks Resurface

United Arab Emirates indices closed Thursday in the red again as investors resorted to a cautious stance amid the escalating situation between the US and Iran.At the close of trading, the FTSE ADX General Index was little changed at 0.033% in the red, while the DFM General Index declined 0.184%.Dominating headlines all over the world are the US Central Command's second round of strikes on Iran, targeting 90 air defense systems, coastal surveillance assets, missile and drone storage sites, and military logistics infrastructure along the country's coastline. Iran responded by attacking US bases in the Gulf."Tanker traffic through the Strait of Hormuz has essentially stopped, which tells you more about risk perception right now than any statement from Washington or Tehran. Brent's climb to its highest level since 19 June shows how quickly the market is pricing in a ceasefire the US president himself says is over," Rystad Energy head of geopolitical analysis Jorge Leon commented. "It's unclear whether diplomatic channels remain open in practice; the latest military exchanges raise the risk that talks will either stall or continue under much more fragile conditions. Fundamentally, the events of the last few days significantly weaken any confidence that the current 60-day truce can still evolve into a permanent peace agreement."Zooming in at home, Dubai Chambers agreed to collaborate with digital financial platform Wio Bank to deliver business account opening, financing, and credit services to small and medium-sized enterprises in Dubai.On the corporate side, Lulu Retail (ADX:LULU) shares closed the session 0.21% lower. The Abu Dhabi-listed retailer opened a new express store in Oman as part of its broader expansion and customer access-enhancing strategy.Elsewhere, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, and Dubai Taxi Co. (DFM:DTC) inaugurated the first ultra-fast electric vehicle charging hub for the latter's electric taxi fleet in Dubai. Dewa gained 0.72%, while Dubai Taxi stocks remained flat at trading's close.

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Asia Markets

Emirati Stocks Fall Amid Renewed Middle East Tensions

Stocks in the United Arab Emirates closed lower as renewed exchange of strikes between the US and Iran drove investors into a risk-off mode.At the close of Wednesday trading, the FTSE ADX General Index declined 0.564%, while the DFM General Index fell 1.511%.The US Central Command carried out new strikes on more than 80 Iranian defense systems, command and control networks, and anti-ship missile sites, as well as over 60 Islamic Revolutionary Guard Corps small boats, in response to Iran's attacks on three commercial vessels in the Strait of Hormuz. It also revoked a license permitting the sale of Iranian oil.Meanwhile, Iran retaliated by targeting US military sites in Bahrain and Kuwait, clouding prospects of a long-term deal between the two countries. Also damping sentiment were US President Donald Trump's comments that the interim agreement with Iran is "over."On the economic front, markets will keep an eye out for the release of the highly anticipated minutes of the Federal Open Market Committee's June meeting later in the day to get cues on the US Fed's next interest rate move."Today's minutes will clarify how serious members are about the possibility of rate hikes. Based on post-meeting communication, we see limited risk of a dovish surprise in the minutes. We expect a cementing of the hawkish message to firm up dollar momentum, although we don't expect it to lead to a break higher as markets may be reluctant to reprice rate expectations aggressively higher (now 35bp by December) after the soft jobs report," ING analysts commented.Back home, Dubai Chambers initiated its Business in Dubai platform to offer corporate services across financial, marketing, technology, and testing and certification sectors to companies aiming to scale their growth in Dubai.Over to corporates, Presight AI (ADX:PRESIGHT) signed a term sheet with Kazakhstan's Ministry of Transport to assess the development of a national operational intelligence platform for real-time monitoring and management of Kazakhstan's transport system. Presight AI closed the session 0.87% higher.Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, unit du Pay partnered with Gcash to provide faster and affordable cross-border remittance services to Filipino workers in the UAE. The Dubai-listed telecommunications company's stocks ended 4.23% in the red.

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Asia Markets

Emirati Stocks Gain as Non-oil Private Sector Growth Softens

Stock trading in the United Arab Emirates closed the week on a positive note as investors shrugged off the latest figures from the region's non-oil private sector.At the close of Friday trading, the FTSE ADX General Index and the DFM General Index gained 0.929% and 1.144%, respectively.The S&P Global UAE PMI slipped to 50.8 in June from 52.6 in May, marking the slowest private sector activity expansion in five years. The weak growth reflected delayed consumer spending, weak tourism activity, and elevated input costs due to the disruptions caused by the Middle East conflict."Looking ahead, recent moves towards an easing of geopolitical tensions in the region should help firms recover demand and normalise supply chains - indeed, the greater movement of shipping along the Strait of Hormuz in June led to shorter delivery times. That said, client caution has persisted so far, and businesses have sufficiently moved to cut staff capacity, suggesting that a rebound in the non-oil sector may turn out to be gradual," S&P Global Market Intelligence principal economist David Owen commented.Closer to home, Dubai Chambers conducted a roundtable in Shanghai to outline investment opportunities for Chinese investors and companies in Dubai's technology, agentic artificial intelligence, logistics, and advanced manufacturing sectors.On the corporate side, Two Point Zero Group (ADX:2POINTZERO) unit Multiply Media Group partnered with Arabian Centres Co., d/b/a/ Cenomi Centers, to develop a digital out-of-home advertising network in Riyadh and Jeddah, Saudi Arabia. Two Point Zero Group closed the session 0.47% higher.Al Sagr National Insurance (DFM:ASNIC) shares ended flat. The Dubai-listed insurance company named Jasim Hussain Ahmed Al Ali as its new chairman at its board meeting held on Thursday.Across the pond, the US and Iran concluded their indirect talks in Doha and will resume them after the funeral processions of the former Iranian Supreme Leader Ayatollah Ali Khamenei.

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PMI: Geopolitical Disruptions, Cautious Spending Slow UAE Non-oil Private Sector Growth in June
US Markets

PMI: Geopolitical Disruptions, Cautious Spending Slow UAE Non-oil Private Sector Growth in June

Regional geopolitical strain and cautious client spending slowed the United Arab Emirates' non-oil private economic momentum, with the sector growing at its slowest pace since February 2021.The S&P Global UAE PMI fell to 50.8 in June 2026 from 52.6 a month ago, data from S&P Global showed Friday. The reading was marginally above the neutral 50 threshold, indicating a "marginal" improvement in operating conditions among non-oil industry businesses.Despite reaching a three-month peak, new business growth remained below the historical average as inflation, tourism slump and delayed client spending dampened overall demand. As a result, staff numbers fell at the fastest rate since August 2020, which also reflects rising costs and productivity drives.Backlogs in June rose at the second-slowest pace in two and a half years amid subdued capacity pressures. Meanwhile, purchasing activity recovered sharply for the month, driven by sales-driven restocking and defensive inventory building to protect against potential supply disruptions and shortages.Zooming in on Dubai, the PMI also slipped to 50.7 in June 2026 from 52 previously, marking the softest improvement in the Emirate's non-oil private sector since January 2021 amid slowing demand growth. While ongoing spending delays and Middle East conflict-related travel reductions weighed on sales growth, businesses ramped up output at the fastest pace since March 2026."Looking ahead, recent moves towards an easing of geopolitical tensions in the region should help firms recover demand and [normalize] supply chains - indeed, the greater movement of shipping along the Strait of Hormuz in June led to shorter delivery times. That said, client caution has persisted so far, and businesses have sufficiently moved to cut staff capacity, suggesting that a rebound in the non-oil sector may turn out to be gradual," S&P Global Market Intelligence principal economist David Owen said.

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International

S&P: UAE Non-oil Private Sector Growth Slows in June

The United Arab Emirates' non-oil private sector grew at the slowest rate in five years in June as geopolitical volatility triggered cautious customer spending and weakness in tourism.The S&P Global UAE PMI stood at 50.8 in June, down from 52.6 in May, S&P Global said Friday.

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Asia Markets

UAE Stocks Close Mixed Ahead of PMI Data

United Arab Emirates shares ended on both sides of the spectrum as investors will shift their focus to the upcoming release of the country's key economic indicator.At the close of Thursday trading, the FTSE ADX General Index added 0.216%, while the DFM General Index lost 0.324%.Investors will await the release of the closely-watched UAE S&P Global Purchasing Managers' Index data for June on Friday to see how the region's non-oil private sector performed amid the ongoing uncertainties in the Middle East. The data inched up to 52.6 in May from 52.1 in April.On the geopolitical front, Qatar's Foreign Ministry spokesperson Majed Al-Ansari said in a social media post that "positive progress" was made on certain aspects of the US and Iran's June memorandum of understanding during the indirect low-level technical talks held in Doha on Wednesday.Closer to home, the UAE's Ministry of Finance listed the country's inaugural sovereign retail T-sukuk on Nasdaq Dubai. The oversubscribed offering received subscription requests of 445 million Emirati dirhams, resulting in the increase of the issue size to 100 million dirhams from 50 million dirhams."The listing of the UAE's inaugural Sovereign Retail T-Sukuk Programme marks an important step in the continued development of the country's capital markets. By lowering the barrier to entry for government-backed fixed-income investments and bringing them to a transparent, regulated marketplace, this programme opens the door for more individuals to participate in an asset class that has traditionally been beyond the reach of many retail investors," Nasdaq Dubai and Dubai Financial Market Chief Executive Officer Hamed Ali commented.On the corporate side, Burjeel Holdings (ADX:BURJEEL) finalized the issue of its $500 million Regulation S senior unsecured sukuk due 2031 as part of its efforts to diversify its funding sources and bolster its capital structure. Its shares closed 2.63% lower.Dubai-listed lender Mashreq Bank (DFM:MASQ) partnered with Sukoon Insurance (DFM:SUKOON) to launch an embedded insurance service for small- to medium-enterprise customers. Mashreq Bank shares ended 0.78% in the red, while Sukoon Insurance closed the session flat.

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Asia Markets

UAE Indices Diverge as US-Iran Hold Indirect Talks

Stocks in the United Arab Emirates struggled to find direction on Wednesday as markets await the outcome of indirect technical talks between the US and Iran taking place in Qatar.At the close of trading, the FTSE ADX General Index declined 0.16%, while the DFM General Index added 0.915%.US envoys Jared Kushner and Steve Witkoff met Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani on Tuesday to discuss the ongoing situation with Iran. Iran, however, said it will not meet the US delegates but is engaged with Qatari mediators.Oil prices dropped slightly as markets remained optimistic that both countries would work out a deal to reopen the Strait of Hormuz and that oil flows through the waterway could return to pre-war levels. Brent crude oil futures stood at nearly $72.383 per barrel as of 3:17 pm UAE time, down 0.78% from the previous day."Oil prices came under further pressure yesterday, leaving ICE Brent to close out its weakest quarter since 2020, dragged down by growing confidence that Persian Gulf crude flows are on the mend," ING analysts said. "The oil market continues to take an optimistic view on a supply recovery from the Persian Gulf, despite recent flare-ups between the US and Iran. Indirect talks in Doha this week have reportedly been positive."Zooming in at home, UAE President Sheikh Mohamed bin Zayed Al Nahyan met with his Chadian counterpart, Mahamat Idriss Déby Itno, to discuss their comprehensive economic partnership agreement and bolster their bilateral ties in the economy, trade, and renewable energy sectors.Over to corporates, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, agreed to buy a 50% stake in AG Group, an integrated business group based in Dubai. The building materials company's stocks closed the session 1.21% in the green.Emirates NBD (DFM:EMIRATESNBD) shares closed 1.56% higher as it signed a memorandum of understanding with Alba Cars to offer short-term automotive financing services to local dealers and partners.

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Asia Markets

Abu Dhabi, Dubai Stocks Fall Amid US-Iran Talks Uncertainty

Stock trading in the United Arab Emirates ended in the red again as uncertainty over potential talks between the US and Iran weighed on sentiment.At the close of Tuesday trading, the FTSE ADX General Index was down 0.359%, while the DFM General Index lost 0.63%.US President Donald Trump said in a social media post on Monday that a meeting with Iran will take place in Doha on Tuesday at the latter's request, conflicting with Iranian Foreign Ministry spokesperson Esmaeil Baghaei's same-day statement that no talks were planned with the US in the coming days."The price action in recent weeks reflects a market that is treating this temporary ceasefire between the US and Iran as a permanent deal. This is clearly not the case, and as we have seen over the last four months, the situation can change very quickly," ING said. "It took long enough to agree on a temporary ceasefire. Reaching a permanent deal which tackles the nuclear issue within 60 days would be very optimistic."Back home, the UAE and Ukraine's comprehensive economic partnership agreement will become effective on Wednesday. The deal focuses on new trade and investment opportunities, the elimination and reduction of certain tariffs, and enhancing private sector collaboration between the two countries.Amid a quiet day on the corporate side, Sagasse Investment Co. (ADX:SAGA) returned to trading on the Abu Dhabi bourse following a temporary suspension due to its annual general meeting. Shares of the investment company closed the session flat.Shares of Dubai Residential REIT (DFM:DUBAIRESI) ended the session 0.79% in the red. The pure-play real estate investment trust purchased 220 townhouses at Jebel Ali Village residential community in Dubai at a forward purchase price of 894 million Emirati dirham.

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Asia Markets

Emirati Shares End Lower as US-Iran Exchange Fresh Strikes

United Arab Emirates equities kicked off the new trading week in the red as investors adopted a cautious stance following the exchange of fresh strikes between the US and Iran.At the close of Monday trading, the FTSE ADX General Index lost 0.41%, while the DFM General Index declined 0.415%.The US and Iran launched retaliatory strikes over the weekend, accusing each other of violating their ceasefire deal. The tensions, however, de-escalated as both countries agreed to halt their attacks and resume talks in Qatar."All this demonstrates that there's still plenty of risk facing the oil market. Even so, participants appear to be shrugging off these developments, instead focusing on what a continued recovery in oil flows would mean for the global balance. This complacency is odd and clearly leaves significant upside risk if the supply recovery proves slow - or if we see significant re-escalation. While the oil market is technically in oversold territory, momentum appears to still be to the downside," ING said.Back at home, Abu Dhabi's Department of Health signed a memorandum of understanding with Eli Lilly's Eli Lilly Drugstore to explore the development of an artificial intelligence-powered obesity healthcare model and an Alzheimer's disease center of excellence in Abu Dhabi.On the corporate side, Adnoc Logistics & Services (ADX:ADNOCLS) was the Abu Dhabi bourse's most traded stock by value and closed 1.01% in the green. The energy maritime logistics company raised its full-year net profit and revenue guidance on the back of improved material handling volumes in the second quarter.Elsewhere, Mashreqbank (DFM:MASQ) will collaborate with Mastercard to expand its quick remit service globally, offering its customers a quick and secure way of transferring funds abroad through its digital banking channels. Shares of the Dubai-listed lender closed the session 0.78% lower.

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Asia Markets

UAE Stocks End Week Mixed as US Inflation Rises

Markets in the United Arab Emirates closed the last trading day of the week diverged as investors dissected the latest inflation figures from the US to get insights into future interest rate policies.At the close of Friday trading, the FTSE ADX General Index was little changed at 0.04% in the green, while the DFM General Index lost 0.104%.The annual US personal consumption expenditures price index rose 4.1% in May, hitting a three-year high, with a 0.4% increase on a monthly basis. Core PCE, on the other hand, grew 0.3% monthly, similar to April and 3.4% on an annual basis. The latest inflation readings prompted markets to price in the possibility of interest rate hikes by the US Fed."The global economy will likely be tested by tighter financial conditions emanating from the US. The labor market firmed up and inflation dynamics have deteriorated in the US. While some one-offs are partly to blame, and tariffs should soon roll off, most of the FOMC seems to be losing patience aſter 5 years of high inflation. We have been clear that the economy was not asking for cuts and there is a lot of uncertainty on how the Fed will operate, but we now expect 75bp of Fed hikes this year, starting in September," BofA Global Research said.On the geopolitical front, Iran's Revolutionary Guards launched a drone strike on a cargo ship in the Strait of Hormuz near Oman, pausing a UN maritime agency's operation to escort vessels through the waterway and casting doubts over the interim peace deal signed with the US.Zooming in at home, Nasdaq Dubai listed $500 million of senior unsecured trust certificates issued by multilateral financial institution The Arab Energy Fund, with the issuance receiving orders worth more than $900 million.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and closed 2.28% higher. The real estate developer generated more than 680 million Emirati dirhams in sales through the selling-out of townhouses at the Orchids at Yas Acres project in Abu Dhabi.Dubai Electricity and Water Authority (DFM:DEWA) and energy technology company Siemens Energy conducted a workshop to explore opportunities across digital transformation and sustainability initiatives and boost stakeholder value and decision-making through artificial intelligence. Shares of Dubai-listed electricity and water services company closed 1.07% in the red.

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Asia Markets

UAE Shares in Red Ahead of Key US Economic Data

Stocks in the United Arab Emirates ended lower as markets await the release of key economic data from the world's biggest economy later in the day.At the close of Thursday trading, the FTSE ADX General Index declined 1.174%, while the DFM General Index shed 1.431%.The US Bureau of Economic Analysis will release the personal consumption expenditures price index reading for May on Thursday. The data, which is the Federal Reserve's preferred measure of inflation, is expected to increase 0.5% in May and 4.1% on an annual basis, while core CPI is expected to rise 0.3% monthly and 3.4% year over year.On the geopolitical front, US President Donald Trump said in a social media post that Iran informed the US that it is not receiving tolls, insurance costs, and other charges from vessels passing the Strait of Hormuz. Trump also vowed to end negotiations in case the information turns out to be false."Oil prices continue to ease amid reports of further improvement in conditions overseas. According to vessel-tracking data compiled by Bloomberg, seven tankers have crossed the Strait of Hormuz or were in the strait yesterday, while separately, data analytics company Kpler reported 39 ships moved through the chokepoint on Monday," Stifel said in a note. "Both the U.S. and Iran have signaled broad-based progress toward ending the war. That being said, the situation remains delicate as negotiations continue."Closer to home, the Dubai Financial Services Authority, or DFSA, recorded a 16% year-over-year growth in licensed and registered firms in 2025, bringing the total number to 1,050.Over to corporates, shares of Burjeel Holdings (ADX:BURJEEL) ended 1.71% lower. The healthcare company priced its $500 million offering of Regulation S five-year senior unsecured sukuk for local and international investors.Meanwhile, in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, delivered the first deployment of 5G-advanced services over L-Band spectrum to boost spectrum efficiency and enhance network capacity and quality. Shares of the telecommunications company closed the session 0.87% in the red.

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Asia Markets

Emirati Equities Diverge as Oil Prices Fall on Hormuz Flow Optimism

United Arab Emirates equities struggled to find direction on Wednesday as oil prices continued to trade lower amid hopes that shipping through the Strait of Hormuz would normalize soon.At the close of trading, the FTSE ADX General Index lost 0.312%, while the DFM General Index was up 0.116%."Oil prices continue to move lower as flows from the Persian Gulf start to recover. Price action suggests the market is assuming a rapid recovery in traffic through the Strait of Hormuz," ING said. "Vessel crossings increased in recent days, although they remain well below pre-war levels. Estimates suggest that roughly 6-7m b/d of oil moved through the strait in recent days, which is still far below pre-war flows of around 20m b/d. However, with pipeline diversions for Saudi Arabia and the UAE, we only need to see oil flows through the strait return to around 14m b/d for oil supply from the Persian Gulf to return to pre-war levels."On the economic calendar this week is the release of the US personal consumption expenditures price index data for May on Thursday. The data is the Federal Reserve's preferred measure of inflation and will provide investors with clues on future monetary policies.Back home, Abu Dhabi's Department of Health partnered with Biocom California to enhance connectivity between researchers, investors, and entrepreneurs and boost the growth of life sciences activities across both regions.Turning to corporate news, shares of Abu Dhabi Ports Co. (ADX:ADPORTS), d/b/a AD Ports Group, closed the session 1.03% in the red. The port and industrial zones developer boosted its equity stake in Global Feeder Shipping to 81%.Dubai-listed Etihad Energy (DFM:ETIHADENERGY) commenced the front-end engineering design process for its refinery development project in Fujairah, which aims to process naphtha into Euro 5-compliant gasoline. Shares of the maritime and shipping company closed the session 0.66% higher.

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Asia Markets

Abu Dhabi, Dubai Stocks Blink Red; Oil Prices Fall as US Eases Iran Sanctions

Markets in the United Arab Emirates ended lower on Tuesday as the FTSE ADX General Index shed 0.11%, while the DFM General Index lost 1.269%.Oil prices dropped after the US issued a 60-day sanctions waiver to allow the export of Iranian oil. The lifting of sanctions is one of Iran's demands in the memorandum of understanding signed with the US to reach a final deal."Looking ahead, the key uncertainty remains how quickly oil flows through the Strait of Hormuz can normalise. Obviously, this depends on how quickly upstream oil production in the Persian Gulf can return," ING said. "Clearly, the evolution of US-Iran talks will be crucial to how quickly energy flows resume. As we've seen in recent days, the ceasefire remains fragile. There's a very real risk of a further flare-up in tensions."As of 3:27 pm UAE time, the Brent crude oil futures stood at nearly $77.906 per barrel, up 0.01% from the previous day.Zooming in at home, Abu Dhabi's Department of Health and French biopharmaceutical company Sanofi signed a memorandum of understanding to evaluate the development of a vaccine innovation center in Abu Dhabi in a bid to bolster vaccine discovery capabilities, messenger ribonucleic acid research, and clinical development and manufacturing.Over to corporates, Burjeel Holdings (ADX:BURJEEL) launched its $1.50 billion trust certificate issuance program on the London stock exchange through its special purpose vehicle Burjeel Sukuk. Shares of the Emirati medical group closed the session 0.86% lower.Meanwhile, in Dubai, shares of International Financial Advisors (DFM:IFA) ended 0.17% in the green as it canceled its ordinary general assembly scheduled on June 29 due to the withdrawal of certain candidates and decided to restart a one-month nomination process.

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Asia Markets

Emirati Shares Begin New Week Upbeat; US-Iran Peace Talks Progress

United Arab Emirates stocks closed higher on the first trading day of the week, buoyed by progress in peace talks and easing tensions between the US and Iran.At the close of Monday trading, the FTSE ADX General Index was up 0.189%, while the DFM General Index added 0.324%.The US and Iran concluded their first round of talks mediated by Pakistan and Qatar in Switzerland. Both countries agreed to a 60-day roadmap towards reaching a final deal, the establishment of a direct communication line to safeguard commercial vessels passing through the Strait of Hormuz, and a mechanism to end military operations in Lebanon."While the market is pricing a reopening of the Strait, risks remain to oil supply related to the negotiations. If the negotiations around nuclear materials and operations are unsuccessful, there is no guarantee that the Strait will remain open. Further conflict in Lebanon between Israel and Hezbollah could also derail the negotiations," Berenberg said.Back at home, Abu Dhabi Registration Authority logged a 21% year-over-year growth in new economic licenses in the first quarter despite the ongoing regional developments in the Middle East.On the corporate front, Abu Dhabi National Co. for Building Materials (ADX:BILDCO), d/b/a Bildco, closed the session 0.57% in the red. The building materials company appointed Woods Bagot as the lead master planning consultant for its sustainable urban development project in Abu Dhabi.On the other hand, pure-play real estate investment trust Dubai Residential REIT (DFM:DUBAIRESI) secured inclusion in the FTSE EPRA Nareit Emerging Index following a recent review by FTSE Russell. Its shares ended the session unchanged.

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Asia Markets

UAE Stocks Snap Winning Streak as US-Iran Defer Peace Talks

Emirati Equities ended a three-day winning streak on the last day of a shortened trading week, which saw the release of the US Federal Reserve interest rate decision and the signing of an interim deal between the US and Iran.At the close of Friday trading, the FTSE ADX General Index fell 0.956%, while the DFM General Index lost 1.691%.The Swiss Federal Department of Foreign Affairs said Friday that the planned peace talks between the US and Iran on the same day have been postponed, injecting fresh uncertainty into the recently signed initial peace deal.Also weighing on sentiment were Israel's airstrikes in southern Lebanon that resulted in at least 18 casualties, as reported by various media outlets. The end to hostilities on all fronts, including Lebanon, was a key demand from Iran for any peace agreement."Ongoing Israeli strikes in southern Lebanon, which have continued post-deal signing, pose perhaps the greatest near-term threat to the deal, as officials in Tehran insist that they represent a clear violation of the MoU. Hence, while the deal is not necessarily dead on arrival, there appear to be real risks to its staying power," RBC Capital Markets said in a note.Zooming in at home, Dubai Chambers discussed and explored initiatives to boost trade and investment between Dubai and Toronto during its meetings with Canadian economic and investment institutions, including Toronto Global, the Ontario Chamber of Commerce, and the Toronto Region Board of Trade.On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and closed 1.78% lower. The real estate manager and investor launched the new Orchids at Yas Acres residential community on Yas Island in Abu Dhabi.Elsewhere, Amanat Holdings (DFM:AMANAT) assumed full ownership of Cambridge Health Group after purchasing the remaining 10.03% stake it did not own in the group. Shares of the healthcare and education investment company closed the session 0.78% in the green.

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Asia Markets

Emirati Equities Extend Rally as Central Bank Keeps Base Rate Unchanged

Shares in the United Arab Emirates extended their winning streak to a third day as investors assessed the Central Bank's decision to keep its base rate unchanged.At the close of Thursday trading, the FTSE ADX General Index gained 1.173%, while the DFM General Index added 2.51%.The UAE Central Bank decided to hold the base rate applicable to the overnight deposit facility at 3.65%, mirroring the US Federal Reserve's move on Wednesday to keep the federal funds rate unchanged between 3.50% and 3.75%. The decision was driven by the Emirati dirham's peg to the US dollar.The Emirati primary financial regulator also kept the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate for all standing credit facilities."While Chair Warsh was unwilling to indicate the direction of the Fed funds rate ahead, nine of his 18 colleagues had no such reservations and pencilled in a hike to 3.75-4.00% by year end in the dot plot. That was a big change from the previous iteration in March, in which 12 out of 19 expected to cut this year. This, alongside Warsh's defence of his Fed's commitment to the 2% inflation half of the Fed's mandate led investors to price in 38bp of tightening this year up from 21bp previously. A hike is now fully priced in by October," Berenberg said.Boosting sentiment is the electronic signing of a 14-point memorandum of understanding between US President Donald Trump and his Iranian counterpart, Masoud Pezeshkian, to end their war and reopen the Strait of Hormuz.Back home and on the corporate side, Ras Al Khaimah Co. for White Cement and Construction Materials (ADX:RAKWCT) closed 4.46% in the green. The ceramic manufacturer will pause trading on July 13 due to its annual general meeting.Meanwhile, in Dubai, Shares of Emirates NBD (DFM:EMIRATESNBD) closed 7.21% higher as it concluded the purchase of a majority stake in Indian private sector bank RBL Bank after receipt of required approvals and fulfillment of closing conditions.

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Equities

US, Iran Sign Memorandum to End War, Reopen Hormuz Strait

The US and Iran electronically signed the "Islamabad Memorandum of Understanding," which calls for the immediate reopening of the Strait of Hormuz, Pakistani Prime Minister Shehbaz Sharif wrote on X early Thursday.The 14-point document, released Wednesday, entails a commitment from the two nations to negotiate and enter a final agreement within 60 days or extend the deadline with mutual consent.As part of the memorandum, the US will end its naval blockade of Iranian ports within 30 days, terminate all sanctions, unfreeze Iranian assets, and propose an investment plan of at least $300 billion for the reconstruction and economic development of the Islamic Republic.The memorandum also includes the "immediate and permanent" end to the war on all fronts, including Lebanon, and ensures that Iran will not buy or develop nuclear weapons.

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Asia Markets

UAE Shares Gain Amid Focus on US Fed Rate Move

Stock trading in the United Arab Emirates ended in the green again as markets await the key interest rate decision from the world's biggest economy later in the day.At the close of Wednesday trading, the FTSE ADX General Index added 0.331%, while the DFM General Index was up 1.007%.The US Fed will release its monetary policy decision today, with analysts expecting the federal funds rate to remain unchanged in the 3.50% to 3.75% range for the fourth consecutive meeting. It will also mark Kevin Warsh's first press conference as Fed chair."We expect the policy rate will remain at 3.75%, as also priced by markets. Focus will be on his policy leanings, views on the economy and any shifts in Fed practices. Even if Warsh proves to be relatively dovish, we still expect the distribution of rate projections to move higher compared to March," Danske Bank said in a note.On the geopolitical front, the US and Iran are expected to meet in Geneva on Friday to sign their deal, comprising the reopening of the Strait of Hormuz and a 60-day ceasefire extension during which negotiations will take place regarding Iran's nuclear program.Zooming in at home, the Central Bank of the UAE and the Bank for International Settlements concluded their secure cross-border open finance initiative Project Aperta, confirming a secure and real-time exchange of cross-border financial data.On the corporate side, Alef Education (ADX:ALEFEDT) expanded its artificial-intelligence-powered language learning system Arabits across private schools in the UAE. Shares of the Abu Dhabi-listed K-12 education technology company closed the session 0.91% in the red.Dubai Investments' (DFM:DIC) real estate arm, Dubai Investment Real Estate, completed the final phase of villa handovers at its Danah Bay mixed-use beachfront development on Al Marjan Island in Ras Al Khaimah. The Emirati investor closed the session 0.27% higher.

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Equities

IEA Forecasts Oil Market Recovery in 2027 After US-Iran Deal

The International Energy Agency expects the oil market to recover in 2027 following weak demand amid disruptions arising from the Middle East war, after the US and Iran reached an interim peace deal that could lead to a reopening of the Strait of Hormuz.In its June oil market report published Wednesday, the IEA said global oil demand is anticipated to decline by 1.1 million barrels per day year over year in 2026, a downgrade of 700,000 barrels per day from its previous month's forecast, as deliveries fell in the second quarter due to increased fuel prices and supply disruptions. Meanwhile, global supply is forecast to drop by 3.9 million barrels of oil per day on average in 2026, to 102.4 million barrels per day, before rebounding to 110.3 million barrels per day in the next year."Further declines in the coming months could still take global oil stocks to historic lows before the market balance shifts to surplus towards the end of the year," the IEA noted.Looking ahead, a rebound in demand growth of a "modest" 2 million barrels per day is projected in 2027 as trade flow normalizes, oil prices decline and the economic outlook brightens, under the assumption that the deal holds."While the US‑Iran interim agreement paves the way for a rebound in Middle East exports, operational and political constraints, including prolonged demining and unresolved transit arrangements, leave downside risks to the outlook," the IEA said.The US-Iran agreement is set to be signed on Friday in Switzerland.

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