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203 stories mentioning FTSE ADX General IndexUpdated 7h ago

Abu Dhabi equities trade amid optimism over a US-Iran peace deal to reopen the Strait of Hormuz, while Adnoc launched a third crude tender.

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Equities

RWE, Masdar Enter Offshore Wind, LNG Supply Deals

Energy group RWE (RWE.F) and Abu Dhabi Future Energy Co., d/b/a Masdar, entered into two deals that involve offshore wind auctions and liquefied natural gas supplies.The first agreement covers a memorandum of understanding that has an indicative investment value of more than 3 billion euros, according to a Sept. 11, 2026, release. The MoU entails joint involvement in offshore wind auctions in 2027.For the remaining agreement, the parties signed a letter of intent regarding the potential terms of two liquefied natural gas sale and purchase deals in Europe, Germany, as well as Asia. The potential deal is expected to take effect in the early 2030s.

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Asia Markets

Emirati Indices Gain Ahead of Key US Economic Data

United Arab Emirates' two benchmark indices closed the trading week higher as investors await the release of the US inflation report later in the day while keeping watch on the latest developments in the Middle East.At the close of Friday trading, the FTSE ADX General Index was 0.003% in the green, while the DFM General Index was up 0.63%.The US consumer price index for August, which will be the final inflation indicator before the US Federal Reserve's September meeting, is expected to grow 0.4% monthly and remain unchanged at 3.4% on an annual basis. Core CPI, meanwhile, is anticipated to rise 0.2% month-on-month and 2.4% yearly."Today's August CPI release can provide the green light to fully price a September hike with even a marginal upside surprise," ING said. "A softer CPI print could weigh on the dollar, but may not be enough to push September hike pricing below 50%, a level we suspect would be sufficient to bring any unconvinced FOMC members on board."On the geopolitical front, oil prices continued to trade above the $100 per-barrel mark. The rally was fueled by Iran-backed Houthi rebels seizing Yemen's port city of Mokha, threatening shipping around the Bab al-Mandeb Strait in the Red Sea.Zooming in at home, the UAE committed to invest 40 billion euros in Germany's digital infrastructure to boost its industrial competitiveness and drive long-term economic growth. The commitment coincides with the signing of 29 memoranda of understanding and deals valued at over 9.36 billion euros between German and Emirati companies.Over to corporates, Pure Health Holding (ADX:PUREHEALTH), through its unit Circle Health Group, will take over selected Unilabs laboratory operations in the UK in a bid to expand its platform internationally. Pure Health closed the session flat.Elsewhere, National Central Cooling Co. (DFM:TABREED), d/b/a Tabreed, appointed interim Chief Executive Officer Yousif Al Hammadi to the permanent role, marking the first time a CEO was named from within the group. Shares of the district cooling system company were 2.05% in the red at the time of closing.

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Equities

IEA Further Cuts Oil Demand Forecast for 2026 as US-Iran Negotiations Remain Stalled

The International Energy Agency expects global oil demand in 2026 to fall more than previously forecast, amid continued supply disruptions and a delay in the anticipated oil flow normalization into the next year due to stalled negotiations between the US and Iran to end the war in the Middle East.In its September oil market report published Friday, the IEA said global oil demand is now projected to decrease by 2.5 million barrels per day on average this year, 940,000 barrels per day higher than its forecast a month ago, as persistently high fuel prices weigh on consumption. The pace of decline in demand, however, is estimated to ease in the third and fourth quarters before, after which demand is expected to recover by 2.6 million barrels of oil per day in 2027Meanwhile, global supply is now projected to drop by 5.7 million barrels of oil per day in 2026, to 100.7 million barrels per day on average, before rebounding in the next year."Inventories have so far played a crucial role in balancing the market. Since the start of the war, global observed oil inventories have fallen by 507 mb, equal to an average draw of 2.8 mb/d. August alone saw stocks fall by a steep 95 mb, or 3.1 mb/d," the IEA noted. "With buffers shrinking and the global refining system stretched to the limit, the need for progress in resolving the conflict in the Middle East - and the Russia-Ukraine war, which is now in its fifth year - is greater than ever to avoid further market tightening and demand destruction."

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Germany Secures EUR40 Billion Investment Package from UAE
US Markets

Germany Secures EUR40 Billion Investment Package from UAE

Germany locked in an investment commitment of 40 billion euros from the United Arab Emirates for the improvement of the European country's industrial competitiveness.The investment package will be used to advance Germany's technological leadership and long-term economic growth, according to a Thursday release. A portion of the package will be spent on advanced digital infrastructure, including the development of data centers with a capacity of 1 gigawatt.Representatives from both countries unveiled the investment package during UAE President Mohamed bin Zayed Al Nahyan's ongoing state visit to Germany. Areas of discussion included international and regional security, trade and investment, energy and climate, and emerging technology, among others.The countries also disclosed that German and Emirati companies entered into a total of 29 memoranda of understanding and deals for transactions with a combined value surpassing 9.36 billion euros. Germany and the UAE committed to establishing a council to oversee investments between the two countries.Beyond the 40-billion-euro package, some companies also entered into corporate investments and partnerships, including German chemicals company Covestro (1COV.F), German energy group RWE (RWE.F), Abu Dhabi National Oil Co., or Adnoc, and Abu Dhabi Future Energy Co., d/b/a Masdar.Al Nahyan is visiting Germany while the UAE is negotiating a free trade agreement with the European Union. Both countries expressed support for "a comprehensive, commercially ambitious agreement" that is expected to generate economic benefits for both parties.

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International

KOF Global Barometers Improve in September

The KOF Swiss Economic Institute's global economic barometers rose in September, indicating a "moderate" rate of economic growth worldwide.The coincident global barometer rose 1.4 points to 104.6 points, recovering from the previous month's decline, while the leading barometer moved up 1.4 points to 105.9 points, according to a Thursday release.The increase in both barometers was largely attributed to the positive contribution from the Asia, Pacific and Africa region.

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Asia Markets

Emirati Equities Close Mixed as Geopolitical Tensions Weigh on Sentiment; Al Seer Marine Surges

Geopolitical tensions and rising oil prices remained in the spotlight as bourses in the United Arab Emirates again struggled to find a unified direction on Thursday.At the close of trading, the FTSE ADX General Index was little changed at 0.056% in the green, while the DFM General Index fell 0.394%.Iran's Islamic Revolutionary Guard Corps said it targeted eight oil tankers and two US vessels after the US Central Command destroyed five Iranian crude tankers on Tuesday. The escalating conflict, coupled with Houthi attacks on Saudi energy infrastructure and cities, sent oil prices above the $100 per barrel threshold."Iran said it is ready to intensify the war, while President Trump said that the war is likely to continue until just after the midterm elections in early November. The risk is that escalation starts leading to meaningful disruptions to Strait of Hormuz flows. Oil flows have surprised to the upside in recent weeks, but the market could tighten more sharply if ongoing escalation translates into disrupted oil flows once again," ING said.On the economic calendar is the release of the August consumer price index print by the US Bureau of Labor Statistics on Friday, enabling investors to gauge inflation and predict interest rate moves.Back home, UAE President Sheikh Mohamed bin Zayed Al Nahyan and his German counterpart Frank-Walter Steinmeier discussed ways to bolster bilateral economic ties and reviewed regional and international developments during the former's state visit to Germany.Turning to corporate news, Al Seer Marine Supplies and Equipment Co. (ADX:ASM) disposed of part of its listed equity investments through separate on-market transactions and allocated the proceeds to prepay a 600 million-Emirati-dirham tranche under its current term loan facility. The marine equipment supplier was the Abu Dhabi bourse's standout stock and closed 14.80% higher.Emirates NBD Bank (DFM:EMIRATESNBD) closed 0.27% higher after it partnered with Shamal Holding to deliver integrated home financing services with structured payment plans to buyers and investors of the latter's off-plan residential projects in Dubai.

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Asia Markets

UAE Shares Diverge as Fresh US-Iran Strikes Send Oil Above $100

Stocks in the United Arab Emirates closed mixed on Wednesday as heightened tensions in the Middle East pushed oil prices above $100 a barrel for the first time since July.At the close of trading, the FTSE ADX General Index was up 0.854%, while the DFM General Index declined 0.324%.The US Central Command said Tuesday it destroyed five Iranian crude oil carriers in response to the Islamic Revolutionary Guard Corps' attempted ballistic missile strikes on a US Navy warship over the previous two days. Iran retaliated by attacking US bases in Jordan and also warned to target vessels in the Persian Gulf."The US strikes against Iran appear limited, and the Iranians appear to be focused on local US bases. The harsh reality of ships getting hit like the Sidr and the Senegal Prosperity brings home that this is an ongoing conflict and that until it reaches a definitive resolution (which feels some way off), it has potential to escalate and de-escalate," Macquarie said in a note. "With more oil going through the Hormuz (albeit with vessels getting hit), we are in neither a situation of max greed nor a situation of max fear."Brent crude oil futures stood at nearly $100.87 per barrel as of 3:47 pm UAE time, up 3.02% from the previous day.Back at home, Abu Dhabi Securities Exchange integrated US-based financial services company Virtu Financial's POSIT technology to launch a block-trading indications network for its listed equity securities, allowing its customers to complete block trades with minimal impact and information leakage.Over to corporates, Al Seer Marine Supplies and Equipment Co. (ADX:ASM) concluded the sale and delivery of its Twin Pollux very large crude carrier and plans to use the proceeds for reinvestment purposes. Shares of the marine equipment supplier closed the session 1.84% higher.Over in Dubai, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, secured US Green Building Council's LEED Gold certification for its Jumeirah Beach Hills district cooling plant. Empower closed 1.88% lower.

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Asia Markets

Abu Dhabi, Dubai Stocks End Higher; Oil Hits Six-week High as Middle East Conflict Intensifies

Markets in the United Arab Emirates closed higher as investors looked past escalating tensions in the Middle East and higher oil prices.At the close of Tuesday trading, the FTSE ADX General Index gained 0.454%, while the DFM General Index was up 0.259%.Oil prices remained above $95 per barrel, hitting a six-week high, as Iran-backed Houthis attacked energy infrastructure and cities in Saudi Arabia, resulting in more than 70 injuries. The attacks followed an exchange of strikes between the US and Iran in the Strait of Hormuz over the weekend.Brent crude oil futures stood at nearly $98.71 per barrel as of 3:50 pm UAE time, up 1.59% from the previous day.Zooming in at home, ADGM, Abu Dhabi's international financial center, recorded 54% year-over-year growth in assets under management, with the total number of active licenses reaching 13,974 in the first half."Abu Dhabi is increasingly becoming the place where all these factors converge seamlessly and meaningfully. Through ADGM, we are building on this momentum, reinforcing Abu Dhabi's position as the Capital of Capital and advancing our ambition to become among the world's top five leading international financial centres," ADGM Chairman Ahmed Jasim Al Zaabi commented.On the corporate side, First Abu Dhabi Bank (ADX:FAB) gained 0.41% at closing as it joined the UN Sustainable Blue Economy Finance Principles and established a 100 billion-Emirati-dirham blue finance target to support sustainable water infrastructure and blue economy projects by 2035.Talabat Holding (DFM:TALABAT) partnered with Singaporean deeptech company QuikBot to launch a pilot for autonomous high-rise deliveries in Dubai under a signed memorandum of understanding. Talabat closed the session flat.

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Asia Markets

Emirati Stocks Diverge Amid New US-Iran Strikes; OPEC+ Keeps October Oil Output Unchanged

Shares trading in the United Arab Emirates ended on both sides of the spectrum as oil prices rose amid another exchange of US-Iran attacks in and around the Strait of Hormuz.At the close of Monday trading, the FTSE ADX General Index lost 0.016%, while the DFM General Index added 0.793%.The US Central Command struck three Iranian oil tankers off Kharg Island, Jask, and in the Gulf of Oman in response to ballistic missile attacks by Iran's Islamic Revolutionary Guard Corps on two US Navy warships.Meanwhile, Iranian Parliament Speaker Mohammad Bagher Ghalibaf threatened to strike US energy facilities in the region if it launches any attacks on Iranian assets."Oil prices are modestly stronger this morning amid the latest escalation in the Persian Gulf. However, European gas prices are seeing more strength given the latest attacks," ING said. "Iran says it has also taken action against tankers navigating unauthorised routes, and now plans to enforce a new restricted zone outside the Strait of Hormuz - a move that could put additional vessels in the Gulf of Oman at risk."In other news, seven OPEC+ countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, agreed to keep oil output unchanged for October at their virtual meeting on Sunday.Closer to home, the UAE Central Bank took part in the sixth preparatory committee meeting of Gulf Cooperation Council central bank governors to discuss challenges in recent monetary and financial developments, review current and future initiatives planned for central banks, and boost cooperation in the banking sector.Over to corporates, Aldar Properties (ADX:ALDAR) gained 1.68% as it launched the Sei Saadiyat residential development comprising 778 homes across six residential buildings in the Saadiyat Cultural District in Abu Dhabi.Elsewhere, Salik (DFM:SALIK) renewed its operations and maintenance deal with Transcore for five years to ensure support for its existing services and future initiatives and activities. Shares of the Dubai-listed tollgate operator closed flat.

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Equities

Market Chatter: Adnoc Reportedly Weighs Stakes in Refineries in Thailand, Nigeria

Abu Dhabi National Oil Co., d/b/a Adnoc, is reportedly looking to acquire stakes in refineries operated by PTT Pcl units in Thailand and in Dangote's facilities in Nigeria.Citing unnamed sources, Bloomberg News reported Monday that the proposed Thai deal, which could be announced in 2026, would allow Adnoc to supply crude to the facility and purchase fuels to sell to other buyers.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

UAE Shares End Week Higher; Oil Holds Above $95 Amid Renewed US-Iran Tensions

Emirati Equities ended the last trading day of the week on a positive note despite renewed US-Iran escalation keeping oil prices high due to supply disruption fears.At the close of Friday trading, the FTSE ADX General Index was up 0.503%, while the DFM General Index gained 0.704%."Oil prices remain elevated, with ICE Brent holding above US$95/bbl amid a pickup in hostilities between the US and Iran this week. This included Iran firing missiles into neighbouring Gulf countries. Escalation is propping up crude, but the rally may lose traction if Hormuz shipments keep moving smoothly," ING said. "The expectation had been for an increase, suggesting the market is not as tight as thought."US Vice President JD Vance said the conflict with Iran is not a war and that major combat operations have already been concluded. Vance added that the US aims to ensure safe commercial shipping through the Strait of Hormuz.Back home and amid a quiet day on the corporate front, Aldar Properties (ADX:ALDAR) and Abu Dhabi Commercial Bank (ADX:ADCB) concluded Abu Dhabi's first mortgage financing on an off-plan property under Abu Dhabi Real Estate Centre's newly launched framework. Aldar Properties and Abu Dhabi Commercial Bank closed 1.58% and 1.20% in the green, respectively.Etihad Energy Holding (DFM:ETIHADENERGY) paused trading to hold its general assembly on Friday to terminate its current external auditor and appoint a new one. Shares of the maritime and shipping company ended flat when it last traded on Thursday.

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Equities

Market Chatter: Adnoc Reportedly Continues LNG Exports via Hormuz Despite Escalating Conflict

Abu Dhabi National Oil Co., d/b/a Adnoc, has continued loading tankers with liquefied natural gas in the Persian Gulf amid the recent escalation of conflict in the Strait of Hormuz, Bloomberg News reported Friday, citing satellite images.The news outlet noted that ship-tracking data showed no tankers broadcasting their location near the Das Island export facility, but satellite data from Wednesday showed one vessel docked at the facility, with another tanker seen nearby.Bloomberg noted that state-owned Adnoc has been occasionally shipping through Hormuz despite the threat of attacks.Adnoc did not immediately respond to' request for comment.(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 Stocks Snap Losing Streak as Non-oil Private Sector Growth Expands

Stocks in the United Arab Emirates broke a three-day losing streak as investors cheered the latest economic data, which signaled solid growth in the country's non-oil private sector.At the close of Thursday trading, the FTSE ADX General Index gained 0.212%, while the DFM General Index was up 0.491%.The S&P Global UAE PMI, an indicator of the country's non-oil private sector activity, rose to 55.3 in August from July's 52.7, marking the fastest improvement in non-oil private sector business conditions since December 2024. New business and output levels grew at a higher rate, while cost pressures softened as supply conditions improved."UAE businesses are actively building supply chain resilience through localisation, with surveyed firms increasingly switching to domestic suppliers to help circumvent geopolitical disruptions. This strategy contributed to a further reduction in delivery times and strong purchasing growth," S&P Global Market Intelligence principal economist David Owen said. "In addition, firms accumulated inventories at the sharpest pace in nearly three years, pointing to growing confidence in the demand outlook and efforts to limit the impact of potential future supply shocks. At the same time, however, employment decreased, reflecting a degree of hesitancy to commit to long-term capacity expansion."Turning to corporate news, Space42 (ADX:SPACE42) launched its Future Spacers program to develop professional skills among local students in line with its National Space Strategy 2031. Shares of the space technology company closed the session 6.67% higher.Sukoon Takaful (DFM:SUKOONTAKAFL) and Ajman Bank (DFM:AJMANBANK) will team up to deliver Sharia-compliant Takaful services to the latter's customers. Sukoon Takaful ended flat, while Ajman Bank added 0.71% at closing.On the geopolitical front, US President Donald Trump said in a social media post that he would not force Iran into negotiations and "couldn't care less" if the Middle Eastern country signs an agreement. Trump also stated that he prefers the US position with almost total control of the Strait of Hormuz.

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Equities

Gulf Marine Services Secures Contract Extension for Small-class Vessel in Middle East

Gulf Marine Services (GMS.L) said Thursday that a major national oil company client exercised the one-year extension option for its chartered small-class vessel.The offshore energy support vessel company's asset will continue to provide maintenance operations for the customer in the Gulf Cooperation Council region, under the same terms and conditions stated in its 2022 contract.

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International

S&P: UAE Non-oil Private Sector Growth Accelerates in August

The United Arab Emirates' non-oil private sector expansion strengthened in August amid a "substantial" growth in new business and a sharper rise in output.The S&P Global UAE PMI stood at 55.3, up from 52.7 a month ago, S&P Global said Thursday. The reading signaled the quickest improvement in operating conditions since December 2024.

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Asia Markets

Emirati Equities Extend Losses Ahead of PMI Data

Stocks in the United Arab Emirates fell for the third consecutive trading day on Wednesday, as the FTSE ADX General Index declined 0.682%, and the DFM General Index lost 0.331%.Markets await the release of the highly anticipated UAE S&P Global Purchasing Managers' Index data for August on Thursday to get insights into the country's non-oil private sector performance. The PMI rose to 52.7 in July from 50.8 in June.On the geopolitical front, the US Central Command said it attacked Islamic Revolutionary Guard Corps air defense sites, radar systems, and communications sites in response to Iran's attacks on commercial shipping in the Strait of Hormuz.Iran responded by targeting US bases in Jordan, Bahrain, and Kuwait, despite US President Donald Trump's warning that the country would be hit at a "much harder and higher level" if it retaliated."Brent pushed back above $95/bbl, reaching its highest level in more than a month, as Persian Gulf tensions escalated further," ING analysts said. "Developments in recent days brought risks to regional oil supplies back into focus. We've seen oil flow through the Strait of Hormuz despite the stalemate between the US and Iran, but rising tensions clearly put crossings at risk."Closer to home, the UAE Central Bank concluded its participation in the Fourth G20 Finance and Central Bank Deputies Meeting and the Second G20 Finance Ministers and Central Bank Governors Meeting in the US as part of its efforts to enhance the stability of the international financial system.Over to corporates, First Abu Dhabi Bank (ADX:FAB) completed live US dollar transactions with Citi using tokenized deposits and Swift smart contract settlements to enable 24/7 cross-border payments. FAB said it is the first bank in the Middle East and Africa to complete transactions at scale under Swift's Ledger Minimum Viable Product. Shares of the Emirati lender closed the session 0.93% lower.Dubai Islamic Bank (DFM:DIB) closed its debut three-year senior unsecured commodity murabaha term facility of $750 million to diversify its funding base. The Dubai-listed lender's stock was 0.27% in the green at closing.

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Asia Markets

Emirati Shares Close Lower as Middle East War Risks Resurface

Shares trading in the United Arab Emirates ended lower again as investors remained cautious amid risks of a broader conflict in the Middle East.At the close of Tuesday trading, the FTSE ADX General Index was down 0.33%, while the DFM General Index was little changed at 0.03% in the red.Iranian President Masoud Pezeshkian stated Tuesday that Iran will immediately reciprocate if the US honors its commitments under the interim agreement signed in June. Meanwhile, US President Donald Trump vowed to hit Iran hard after the recent exchange of strikes.​"Trump said yesterday that the US would respond to Iran's latest attacks against US facilities in the region, though he also sought to downplay the escalation, saying that strikes against Iran will be limited and that 'this is a relatively little war for us,'" Deutsche Bank Research said.​On the oil front, prices continued to trade higher amid the renewed tensions in the Middle East as Brent crude oil futures stood at nearly $92.085 per barrel, up 1.78% from the previous day at 3:15 pm UAE time.​Back home, Dubai Chambers launched a specialized agentic artificial intelligence training program for over 14,000 member companies of the business groups and business councils operating under the organization.​Amid a quiet day for regional corporate news, Lulu Retail (ADX:LULU) opened a new hypermarket in Madinah, Saudi Arabia. Shares of the Abu Dhabi-listed retailer closed the session 1.26% lower.​Elsewhere, Agility Public Warehousing (DFM:MKHZN), d/b/a Makhazen, and its executives were hit with a 10,000 Kuwaiti-dinar penalty due to non-compliance with the Capital Market Authority's disclosure requirements and accounting standards. Makhazen ended 4.44% in the red.

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Equities

Market Chatter: Adnoc Reportedly Restores Ruwais Refinery to Full Capacity After Drone Strike

Abu Dhabi National Oil Co., or Adnoc, reportedly restored its Ruwais refinery to full capacity after it halted operations in March due to a fire caused by an Iranian drone strike, Bloomberg News reported Monday, citing people familiar with the matter.The refinery returned to processing 922,000 barrels of crude daily a month ago, with fuel exports reaching 70% of prewar levels, the report added.The state-owned oil company 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

UAE Shares Blink Red as Renewed US-Iran Strikes Spook Investors

Markets in the United Arab Emirates started the new trading week in negative territory as risks of renewed escalation between the US and Iran weighed on sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.369%, while the DFM General Index declined 0.793%.Oil prices rose as the US struck two Islamic Revolutionary Guard Corps rocket launchers on Larak Island in the Strait of Hormuz, targeting minelaying forces. Iran retaliated by attacking US bases in Jordan and claiming drone strikes on the Al Minhad Air Base in the UAE.Meanwhile, the UAE's Ministry of Defence said it identified and intercepted an Iranian unmanned aerial vehicle but denied reports of strikes on Al Minhad Air Base."Oil prices started the week stronger following the first military strikes between the US and Iran in a month. ICE Brent briefly moved back above US$90/bbl in early morning Asia trading," ING said. "This reinforces concerns about a prolonged stalemate between both sides and, as a result, disruptions to energy flows from the Persian Gulf."Back home and on the corporate front, Alpha Dhabi Holding (ADX:ALPHADHABI) shares closed the session 1.17% in the red. The Abu Dhabi-listed investment holding company aims to double its capital commitment in the Mubadala Capital-managed Micad Credit joint venture to $1 billion and increase its ownership to 40% from 20%.United Securities affirmed its hold rating on Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, after its second-quarter net profit came in line with the investment manager's expectations. The cooling services company's revenue, however, was 16% below the forecast. Empower closed the session 0.63% lower.

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Asia Markets

Abu Dhabi, Dubai Stocks End Shortened Week in Green; US Inflation Remains High

Stock trading in the United Arab Emirates was back in the green on Thursday as market watchers digested the latest US inflation print, which remained above the US Federal Reserve's 2% target.At the close of trading, the FTSE ADX General Index was marginally up at 0.086%, while the DFM General Index gained 0.27%. The bourse will be closed on Friday in observance of Al Mawlid Al Nabawi.The headline personal consumption expenditures price index, the US Fed's preferred inflation tracking tool, climbed 0.2% monthly and 3.7% year-over-year in July. Core PCE, on the other hand, remained in line with expectations at 0.2% month-over-month and 3.3% annually."Unchanged PCE inflation rate in July gives the Federal Reserve (Fed) the leeway to leave the federal funds rate unchanged at 3.50 - 3.75% at its next meeting on 16 September," Berenberg said. "Even though inflation remains above the Fed's 2% target, a sideways trend in the inflation rate does not force the Fed to take action. Furthermore, FOMC members must increasingly weigh up above target inflation against the backdrop of stagnating employment."Over to geopolitics, Iranian Foreign Ministry spokesman Esmail Baghaei said that Qatari Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani will visit Iran on Thursday to revive mediation efforts and discuss the Strait of Hormuz.Closer to home and on the corporate front, Abu Dhabi Islamic Bank (ADX:ADIB), in partnership with Marriott Bonvoy and Visa, launched new travel and lifestyle-focused credit cards for customers. Shares of the Abu Dhabi-listed lender closed the session 0.77% higher.Sukoon Insurance (DFM:SUKOON) signed a memorandum of understanding with Dubai Chamber of Commerce to provide motor and health insurance, investment, and employee benefit services to the latter's employees. Sukoon Insurance shares were flat at the close of trading.

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