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159 stories mentioning Dubai Financial Market General IndexUpdated 2d ago

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

What's the latest news on Dubai Financial Market General Index?

Asia Markets

UAE Stocks Fall Amid Modest Non-oil Private Sector Growth

United Arab Emirates equities ended Wednesday's trading session in the red as investors dissected the latest data from the country's non-oil private sector.At the close of trading, the FTSE ADX General Index was down 0.406%, while the DFM General Index declined 0.801%.The S&P Global UAE PMI increased to 52.6 in May from 52.1 in April, staying well below its long-run average of 54.3. While operating conditions improved, growth remained subdued with a decline in export orders, and cost pressures rose amid the ongoing regional developments and supply chain disruptions due to the continued closure of the Strait of Hormuz."The continued cut-off to maritime trade had a cascading effect through the UAE economy in May. Input deliveries were delayed to the greatest extent since the height of the COVID-19 pandemic in April 2020, with some firms reporting that disruptions to manufacturing production schedules fed through to other sectors," S&P Global Market Intelligence senior economist David Owen said. "Positively, the longer-term outlook remained strong in May, suggesting that businesses still view these current challenges as temporary and expect growth to bounce back quickly."On the geopolitical front, the US and Iran exchanged fresh strikes overnight, while further talks between Lebanon and Israel are expected to take place on Wednesday.Back home, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, in a consortium with Aljomaih Energy and Water Co. and Sembcorp Industries, secured the Taweelah C independent power producer project in Abu Dhabi from Emirates Water and Electricity Co. Shares of the energy company closed the session 1.72% lower.Meanwhile, in Dubai, stocks of Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, ended flat. The telecommunications company launched a $50 million corporate venture fund to invest in fintech, artificial intelligence, and cybersecurity companies as part of its strategy to enhance its core activities.

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PMI: Non-oil Private Sector Growth in Saudi Arabia, UAE Picks Up Against Tense Geopolitical Backdrop
US Markets

PMI: Non-oil Private Sector Growth in Saudi Arabia, UAE Picks Up Against Tense Geopolitical Backdrop

Expansion in the non-oil private sectors of Saudi Arabia and the United Arab Emirates improved in May but remained well below their respective long-run averages as regional geopolitical tensions continued to dampen new business growth, surveys conducted by S&P Global showed Wednesday.The seasonally adjusted Riyad Bank Saudi Arabia PMI climbed to 52.8 in May from 51.5 in April, against the historical average of 56.8. The "notable" improvement in business activity was the quickest in three months as domestic demand and stabilizing supply chains led to a sharp rise in production.Employment also swung back to growth, while purchasing activity trended higher for the first time since February. Still, shipping disruptions, higher freight and fuel costs, and regional tensions weighed down external demand, leading to a steep drop in new export orders for a third straight month."Overall, the latest PMI reading supports the expectation that Saudi Arabia's non-oil economy will continue its upward trend during the remainder of 2026," Riyad Bank Chief Economist Naif Al-Ghaith said. "Improving domestic demand, stabilizing supply chains, contained inflation, strong government-led investment activity, and healthy trade performance collectively provide a strong foundation for continued private sector expansion."In the Emirates, the improvement in non-oil private sector conditions was only moderate in May. The seasonally adjusted S&P Global UAE PMI edged up to 52.6 from 52.1 in April, staying under its long-run average of 54.3.Survey respondents reported heightened supply-chain disruptions, because of which new business growth remained subdued, holding close to April's 62-month low. A decline in exports also impacted order books.Still, output growth reached a three-month high, with 21% of businesses seeing increased activity, thanks to stronger market demand, project expansion and government-backed initiatives."Positively, the longer-term outlook remained strong in May, suggesting that [Emirati] businesses still view these current challenges as temporary and expect growth to bounce back quickly," S&P Global Principal Economist David Owen concluded.

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US Proposes New Tariffs on EU Over Forced Labor as Brussels Advances Trade Deal
US Markets

US Proposes New Tariffs on EU Over Forced Labor as Brussels Advances Trade Deal

The US on Tuesday proposed additional tariffs on 60 economies, including the European Union, following an investigation into the enforcement of forced labor import prohibitions.As part of a Section 301 investigation, the Office of the US Trade Representative threatened an extra 10% duty on the EU, stemming from findings that the bloc failed to "effectively" block forced labor imports. The proposed tariffs were announced on the same day that the European Parliament's trade committee granted preliminary approval for a trade agreement reached with the US in the third quarter of 2025.The targeted 27-nation bloc joins countries like Canada, Mexico and Pakistan, which will face the 10% tariff rate because they established partial enforcement regimes or have committed to doing so through reciprocal trade agreements. Meanwhile, other economies, including Switzerland, Saudi Arabia, South Africa and the United Arab Emirates, will be hit by a steeper 12.5% tariff rate on failure "to impose and effectively enforce a prohibition on the importation of goods produced with forced labor.""The failure of our most important trading partners to address the importation of goods made with forced labor is unacceptable," said US Trade Representative Jamieson Greer. "This creates a dynamic where American workers are forced to compete globally on an unlevel playing field. We will no longer tolerate this disparity."The United States Trade Representative invited public feedback on the proposal, setting a deadline of July 6 for written comments and scheduling public hearings for July 7.Danske Bank noted that the move clears the path for permanent tariffs to take over when the 10% Section 122 duties expire on July 24. "While the shift in legal basis could still face court challenges, overall tariff levels for now should remain little changed when the authority 'switches' from Section 122 to Section 301," the bank wrote.

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International

S&P: UAE Non-oil Private Sector Growth Remains Subdued in May

The United Arab Emirates' non-oil private sector conditions improved moderately in May as regional geopolitical tensions and heightened supply-chain disruptions limited new business growth and further increased operating costs.The seasonally adjusted S&P Global UAE PMI edged up to 52.6 from 52.1 in April, S&P Global said Wednesday. The index remained below its long-run average of 54.3.

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Equities

Adnoc Mulls UAE's First Multi-fuel Export Pipeline Amid Strait of Hormuz Closure

Abu Dhabi National Oil Co, or Adnoc, is planning to build a new pipeline for the export of gasoline, diesel, and jet fuel amid the continued closure of the Strait of Hormuz.The multi-fuel pipeline will be the first in the United Arab Emirates and is part of Adnoc's efforts to ensure the continued supply of its products to clients as regional tensions persist, London's Financial Times reported Tuesday, citing Adnoc's Executive Vice President for Trading Philippe Khoury.Adnoc is currently developing a second crude pipeline to double its oil export capacity through Fujairah, set to become operational in 2027.

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Asia Markets

Abu Dhabi, Dubai Stocks Fall Ahead of Key Economic Data

Stock trading in the United Arab Emirates ended lower on Tuesday as the FTSE ADX General Index declined 0.304%, while the DFM General Index was down 0.738%.The local economic calendar will see the release of the UAE S&P Global Purchasing Managers' Index report for May on Wednesday. The data, which provides investors with insights into the country's non-oil private sector activity, fell to 52.1 in April from 52.9 in March.On the geopolitical front, US President Donald Trump said that talks with Iran are continuing at a rapid pace, countering news that the latter is reportedly suspending indirect peace negotiations due to Israel's attacks in Lebanon. Trump also stated that both Hezbollah and Israel agreed to stop their attacks."Trump's intervention helped ease fears that the weekend's escalation in Lebanon would lead to a broader re-escalation between the US and Iran. Still, uncertainty over the possible US-Iran deal persists, with growing doubts that the Strait of Hormuz will reopen soon," Deutsche Bank Research said.Back home, the Abu Dhabi Securities Exchange and Jordan's Amman Stock Exchange launched their electronic link through the Tabadul platform to enable cross-market trading through brokerage firms and offer expanded investment opportunities for investors in both countries.On the corporate front, stocks of Agility Global (ADX:AGILITY) closed the session 0.64% in the green as it purchased an industrial plot of land in Saudi Arabia for 700 million Saudi riyals.Dubai-listed Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, opened a command control center at its new headquarters in Dubai to manage operations and detect malfunctions across its plants and networks in the city. Its shares closed the session flat.

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Asia Markets

UAE Stocks Return to Trading After Eid Holidays; Oil Prices Rise Over US-Iran Deal Uncertainty

Markets in the United Arab Emirates ended the first trading day back from the Eid holidays on both sides of the spectrum as investors remained cautious amid uncertainty surrounding a peace deal between the US and Iran.At the close of Monday trading, the FTSE ADX General Index lost 0.53%, while the DFM General Index was up 0.303%.Oil prices climbed on Monday after Iran's Islamic Revolutionary Guard Corps targeted an unnamed air base used by the US for an attack on southern Iran. The attacks follow the US Central Command's "self-defense" strikes over the weekend on Iranian air defenses, a ground control station, and two drones that posed threats to ships moving through regional waters."We've never felt closer to a deal but potentially never felt closer to it all falling apart with isolated strikes becoming more frequent including some again over the weekend. It's hard to imagine remaining in limbo for much longer given that if the Strait of Hormuz remains closed into mid-summer it will at some point likely lead to a non-linear tipping point of economic stress," Deutsche Bank Research said. "For now, it seems Mr Trump is still deciding on whether the current negotiations between the two nations satisfy his demands. He has been surprisingly quiet over the weekend which indicates things perhaps coming close to a head."As of 3:40 pm UAE time, the Brent crude oil futures stood at nearly $93.578 per barrel, up 2.70% from the previous day.Back home and on the corporate side, Emirates Telecommunications Group Co. (ADX:EAND), d/b/a e&, agreed to divest its 12.50% stake in Careem Technologies to Uber Technologies for $100 million. Shares of the telecommunications company closed the session 0.11% lower.Elsewhere, Dubai Taxi (DFM:DTC) partnered with AJ Industries to expand its mobility services and explore new business models in Ajman. The taxi services company's stocks ended the session flat.

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Equities

Update: Market Chatter: Adnoc Ships Another LNG Tanker Through Strait of Hormuz to India

(Updates to add Adnoc's statement)Abu Dhabi National Oil Co., or Adnoc, is reported to have shipped another tanker carrying liquefied natural gas through the Strait of Hormuz to its destination listed as India.The loaded cargo ship reappeared northwest of Muscat, Oman, after stopping transmissions around May 2, Bloomberg News reported Wednesday, citing its ship-tracking data.An Adnoc spokesperson told, "We do not comment on the position, movements, or routing of our vessels as a matter of policy."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Equities

Market Chatter: Adnoc Ships Another LNG Tanker Through Strait of Hormuz to India

Abu Dhabi National Oil Co., or Adnoc, is reported to have shipped another tanker carrying liquefied natural gas through the Strait of Hormuz to its destination listed as India.The loaded cargo ship reappeared northwest of Muscat, Oman, after stopping transmissions around May 2, Bloomberg News reported Wednesday, citing its ship-tracking data.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Equities

Update: Market Chatter: UAE's Adnoc Reportedly Continues Energy Exports via Hormuz

(Updates to add statement from Adnoc spokesperson)Abu Dhabi National Oil Co, or Adnoc, is said to be quietly transporting its oil and gas shipments through the Strait of Hormuz using its own fleet by employing so-called dark transit and other practices.Bloomberg News reported Monday, citing tracking data, traders, and people with knowledge of the matter, that the United Arab Emirates-based oil producer continues to export energy despite the Iranian navy and the US warships' blockade by switching off its vessels' tracking transponders while crossing the strait.The vessels include crude and clean petroleum product tankers, and gas carriers controlled by Navig8, which is majority-owned by Adnoc Logistics and Services (ADX:ADNOCLS), the report said.An Adnoc spokesperson said the company does not comment on "the position, movements, or routing of our vessels as a matter of policy."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia Markets

UAE Shares Close Higher Ahead of Eid Holidays as US-Iran Deal Hopes Lift Sentiment

Stocks in the United Arab Emirates are heading into the holidays on a positive note, buoyed by optimism of a potential agreement between the US and Iran.At the close of Monday trading, the FTSE ADX General Index added 0.453%, while the DFM General Index was up 1.136%. The bourses will remain closed from Tuesday until Friday in observance of Eid Al Adha holidays.US President Donald Trump said in a social media post that talks with Iran are moving forward in an "orderly and constructive" manner and that he directed his representatives not to rush into a deal. Trump also stated that the Strait of Hormuz blockade will remain in place until an agreement is signed.Meanwhile, Iranian Foreign Ministry spokesman Esmaeil Baghaei said that a framework was reached with the US on certain issues, but it does not mean that a deal is imminent."We've been at this stage before, only for talks to break down. Therefore, the market will likely be more cautious about overreacting to these headlines," ING said. "The US suggests that any final deal could take several days. Meanwhile, local Iranian media claims that the US is still blocking some key Iranian demands. Obviously, the big unknown is how the US and Iran will resolve their differences on Iran's nuclear programme."Back home, Abu Dhabi National Oil Co, or Adnoc, was reportedly involved in the transport of oil and gas shipments through the Strait of Hormuz by switching off its vessels' transponders, Bloomberg News reported.Amid a quiet day on the corporate side, FAB Securities reiterated Adnoc Gas' (ADX:ADNOCGAS) buy rating with a price target of 4.30 Emirati dirhams after the natural gas distribution company's decline in its first-quarter net attributable profit exceeded the financial services firm's estimate. Its shares closed the session 2.39% higher.Over in Dubai, Sukoon Insurance (DFM:SUKOON) launched a new platform enabling its customers to navigate products and access claims information in a matter of minutes. Shares of the insurance company ended the session flat when it last traded on April 21.

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Equities

Market Chatter: UAE's Adnoc Reportedly Continues Energy Exports via Hormuz

Abu Dhabi National Oil Co, or Adnoc, is said to be quietly transporting its oil and gas shipments through the Strait of Hormuz using its own fleet by employing so-called dark transit and other practices.Bloomberg News reported Monday, citing tracking data, traders, and people with knowledge of the matter, that the United Arab Emirates-based oil producer continues to export energy despite the Iranian navy and the US warships' blockade by switching off its vessels' tracking transponders while crossing the strait.The vessels include crude and clean petroleum product tankers, and gas carriers controlled by Navig8, which is majority-owned by Adnoc Logistics and Services (ADX:ADNOCLS), the report said.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia Markets

Emirati Shares in Green as Geopolitical Tensions, Oil Prices Remain in Focus

United Arab Emirates equities shrugged off renewed geopolitical and oil price jitters as both Dubai and Abu Dhabi indices closed the last trading day of the week in the green.At the close of Friday trading, the FTSE ADX General Index added 0.223%, while the DFM General Index rose 0.56%.Oil prices gained after a Reuters report, citing two senior Iranian sources, said that Iran's Supreme Leader, Mojtaba Khamenei, ordered that enriched uranium should not be sent abroad, conflicting with the US demand to transfer it out of the country."Uncertainty surrounding a US-Iran deal abounds as we head into the weekend, leaving the market susceptible to seesaw price moves if any fresh noise emerges," analysts at ING said. "While there are signs of optimism, uncertainty reigns. This is not the first time a deal seemed close, only for negotiations to break down. So, there's a large segment of the market that will be more sceptical about the positive signals we are seeing."As of 3:07 pm UAE time, the Brent crude oil futures stood at nearly $105.47 per barrel, up 2.82% from the previous day.Back home and on the corporate front, International Holding Co. (ADX:IHC), IHC, closed 0.256% lower. The Abu Dhabi-based holding company carried out a transaction worth 110 million Emirati dirhams through DDSC, a dirham-backed stablecoin approved by the UAE Central Bank.Meanwhile, in Dubai, Salik (DFM:SALIK) and Parkin Co. (DFM:PARKIN) will start to implement the Federal Tax Authority's new value-added tax rate of 5% on their services from June 1. Shares of Salik closed 0.90% lower, while those of Parkin ended 1.64% in the green.

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Equities

Adnoc CEO Says Full Flow in Hormuz Not Expected Until H1 2027

Abu Dhabi National Oil Co., or Adnoc, estimated that oil shipments in the Strait of Hormuz will not flow fully before the first or second quarter of 2027 even if the war in the Middle East ends immediately.The state-owned oil producer's chief executive Sultan Al Jaber said in an event on Wednesday that it will take at least four months for oil flows to return to ​80% of pre-conflict levels, Reuters reported on Thursday.

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Asia Markets

UAE Stocks Blink Green on US-Iran Deal Optimism

Stock trading in the United Arab Emirates closed higher on Thursday as prospects of a deal between the US and Iran boosted market sentiment.At the close of trading, the FTSE ADX General Index gained 0.399%, while the DFM General Index was up 0.60%.According to reports by multiple media outlets, Iran is reviewing a new US proposal aimed at ending the conflict in the Middle East. US President Donald Trump said he could wait a few days to get the right answers from Iran and threatened escalation in case a deal is not reached."For the second time this May, markets are trying to trade a US-Iran peace deal after President Trump said negotiations were in their 'final stages'. Conviction is lower this time. Rhetoric from both sides remains belligerent, and markets are more hesitant to chase optimistic headlines after earlier disappointments," ING said.Closer to home, the UAE's new oil pipeline meant to bypass the Strait of Hormuz reached 50% completion, but full oil flows are not expected to return before the first or second quarter of 2027, Reuters reported, citing UAE Minister of Industry and Advanced Technology and Abu Dhabi National Oil Co., or Adnoc's, head Sultan Ahmed Al Jaber.Over to corporates, Abu Dhabi National Co. for Building Materials (ADX:BILDCO) d/b/a Bildco, intends to launch an integrated logistics hub and a collection and operations center in Oman. Shares of the building materials company closed the session flat.Elsewhere, Dubai Investments (DFM:DIC) unit Globalpharma signed seven strategic memoranda of understanding with different companies to bolster its capabilities across product development, manufacturing, financing, and sustainable operations. Its stocks closed the session 0.55% higher.

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UK-GCC Landmark Trade Pact Expected to Boost British Economy by GBP3.7 Billion Annually
US Markets

UK-GCC Landmark Trade Pact Expected to Boost British Economy by GBP3.7 Billion Annually

The UK's newly secured free trade agreement with the Gulf Cooperation Council is projected to inject 3.7 billion pounds sterling per year into the British economy.The British government also expects the deal, which is a first between the GCC and a G7 nation, to boost bilateral trade by 19.8%, potentially adding 15.5 billion pounds annually to UK-Gulf trade in the long run, according to a Wednesday release. The member states of the GCC include Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Oman and Qatar.Under the trade pact, tariffs on food exports, medical equipment and advanced manufacturing will be reduced or cut completely. British services, which account for 80% of the UK economy and half of the country's exports to the GCC, will get guaranteed market access.In a GCC first, the deal also ensures the "free flow of data," allowing UK companies to legally store and process business and financial data outside the Gulf. The GCC also committed to a simpler and more efficient customs process, with standard goods cleared within 48 hours and perishable shipments released within six hours.Once fully implemented, tariffs on 93% of UK exports to GCC are expected to be eliminated, cutting annual duties by 580 million pounds, with 360 million pounds of tariffs to be removed on the first day the agreement takes effect. To implement the deal, the UK and the GCC must finalize the legal text, officially sign the treaty and complete their respective ratification processes.Jasem Albudaiwi, the GCC's secretary general, said the conclusion of the talks will add to "cementing the economic pathways of both regions for generations to come." Meanwhile, British Prime Minister Keir Starmer said the agreement is a "huge win for British business, and for working people who will feel the benefits in the years ahead through higher wages and more opportunities." The UK expects wages to rise by 1.9 billion pounds annually over the long term as a result of the deal.The British Chambers of Commerce Qatar Chairman Emad Turkman expects the deal to generate new business for companies in sectors such as financial services, construction, energy, professional services, hospitality, education and technology.HSBC (HSBA.L) Group Chief Executive Georges Elhedery said the GCC represents a region of "growing strategic importance and long-term opportunity." Elhedery added that the bank, with a footprint spanning the UK and all six Gulf states, sees "first-hand the opportunity this agreement can unlock" and is prepared to help businesses invest and grow.

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Asia Markets

UAE Shares Slide Ahead of US Fed Meeting Minutes

Emirati Equities slipped back into negative territory as markets await the release of the Federal Open Market Committee meeting minutes later in the day.At the close of Wednesday trading, the FTSE ADX General Index was down 0.521%, while the DFM General Index declined 0.618%.On the economic calendar today are the closely watched minutes from the FOMC's meeting in April, where the committee voted to keep the interest rates steady in the 3.50% to 3.75% range due to high inflation and energy prices, driven by ongoing developments in the Middle East. The minutes will provide investors with insights into the US Federal Reserve's stance on future monetary policies."Another event to watch today is the release of April's FOMC minutes, which will shed more light on the reasoning for the three dissenters who preferred a less dovish message. Any hints that went as far as adding rate hikes to the discussion could underpin the recent hawkish repricing and add support for the dollar," analysts at ING said.On the geopolitical front, Iran threatened to extend the war beyond the Middle East if the US resumes its attacks. Earlier, US President Donald Trump said that he had been an hour away from relaunching strikes before postponing them at the request of Gulf countries.Back home and on the corporate side, FAB Securities reiterated Abu Dhabi Ports Co. (ADX:ADPORTS), d/b/a AD Ports Group, buy rating and its price target of 7.35 Emirati dirhams after the port and industrial zones developer's first-quarter attributable net profit exceeded the financial services firm's expectations. Its shares closed 0.45% higher.Dubai-listed Gulf Navigation (DFM:GULFNAV) returned to profit in the first quarter, while revenue rose year over year. Shares of the maritime and shipping company were 3.26% in the green at the time of closing.

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Asia Markets

Emirati Equities Rebound as US Postpones Planned Attack on Iran

Stocks in the United Arab Emirates were back in the green on Tuesday as hopes of renewed negotiations between the US and Iran boosted market sentiment, leading to a decline in oil prices.At the close of trading, the FTSE ADX General Index gained 0.913%, while the DFM General Index added 0.933%.US President Donald Trump said that he held off a planned military attack on Iran scheduled for Tuesday at the request of Qatar, Saudi Arabia, and the UAE. Trump also added that "serious negotiations" are taking place and a potential deal acceptable to the US might be reached.According to reports from various media outlets, Iran submitted a new response to the latest US proposal through Pakistan. The proposal entails the withdrawal of US troops from close areas, compensation for war damages, lifting of all sanctions, and release of frozen funds."The oil market continues to trade in wide ranges, and it remains extremely sensitive to Iran-related headlines amid current supply disruptions," ING said. "One might think the oil market would become increasingly numb to these headlines. However, the scale of supply disruptions is significant and growing more concerning each day that oil flows remain halted."Back home, Abu Dhabi Securities Exchange integrated its derivatives offerings and market data onto the Bloomberg Terminal, enabling institutional investors to explore and access opportunities within UAE-listed companies.On the corporate side, Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, teamed up with Americana Restaurants International (ADX:AMR) to integrate up to 200 quick service restaurants in its network. Shares of Adnoc Distribution closed 0.26% higher, while those of Americana Restaurants surged 6.25%.United Securities downgraded its rating on Dubai Taxi Co (DFM:DTC) to hold from buy and cut its price target to 2.15 Emirati dirhams per share, after its profit and revenue came to be lower than the investment management firm's estimates. The taxi company's stocks closed the session flat.

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Equities

Adnoc CEO Calls Drone Strike on UAE Nuclear Power Plant 'Terrorist Attack'

Abu Dhabi National Oil Co., or Adnoc, Chief Executive Officer Sultan Ahmed Al Jaber called the drone strike on the Barakah nuclear power plant in the United Arab Emirates "a terrorist attack on a peaceful project" and on every nation's right to build and provide clean energy.In a statement posted on social media platform X on Monday, the state-owned oil producer's CEO said that Barakah will continue to operate, and that the country will continue to build.Al Jaber's statement relates to the Sunday drone strikes that set fire to an electrical generator within the Barakah facility's perimeter, as reported by media outlets.

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Asia Markets

Geopolitical Uncertainties, Volatile Oil Prices Weigh on Emirati Stocks

Markets in the United Arab Emirates closed lower on Monday as the FTSE ADX General Index declined 1.202%, while the DFM General Index shed 1.738%.Oil prices climbed amid no hopes for an end to the Iran war. US President Donald Trump said in a social media post that the "clock is ticking" for Iran to make a deal, and "there won't be anything left of them," if an agreement is not reached."The oil market continues to reprice ongoing supply disruptions, with last week's Trump-Xi talks yielding no tangible progress in the Middle East. There had been hope (possibly misplaced) that China could use its influence over Tehran to break the deadlock between the US and Iran. If anything, re-escalation risks are increasing, with a drone strike on the UAE's only nuclear power plant over the weekend," ING said.As of 3:31 pm UAE time, the Brent crude oil futures stood at nearly $110.591 per barrel, up 1.22% from the previous day.Closer to home, the UAE's Ministry of Defence said Sunday that investigations are being carried out to confirm the source of the three drones, two of which were intercepted and one led to a fire at an electrical generator outside the inner perimeter of the Barakah nuclear power plant in Abu Dhabi. The ministry added that the drones entered the country from the western border.Over to corporates, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, finalized the sale of a 49% stake in transportation and mobility services company Massar Solutions to BlueFive Capital. Shares of the energy company closed the session 3.91% in the red.Meanwhile, in Dubai, BHM Capital Financial Services (DFM:BHMCAPITAL) recorded a 22% and 38% year over year growth in its net profit and total revenue, respectively, for the three months ended March 31. The financial and investment company's stocks ended flat.

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