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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.

Asia Markets

UAE Stocks Closed Mixed Amid Central Bank Rate Hold

Stock trading in the United Arab Emirates closed on both sides of the spectrum on Thursday, with the FTSE ADX General Index adding 0.399% and the DFM General Index little changed at 0.08% in the red at the close of trading.The UAE Central Bank on Wednesday kept the base rate applicable to the overnight deposit facility unchanged at 3.65%, while also maintaining the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate for all standing credit facilities.The financial regulator's decision was in line with the US Fed's move to keep the federal funds rate steady, as the Emirati dirham is pegged to the US dollar."The Federal Open Market Committee (FOMC) voted 9 to 3 to keep the federal funds rate at 3.50% to 3.75%. President Warsh struck a hawkish tone by repeatedly emphasising that inflation had remained above two per cent for too long. However, he was not among the three FOMC members who voted in favour of a 25bp increase," Berenberg said. "We reiterate our call that if tensions in the Middle East ease, as we anticipate in our base case scenario, the Fed will not need to increase its key interest rate. However, under Warsh, the risk of a surprise has increased significantly."Meanwhile, geopolitical risks remained in focus as the US Central Command launched another round of strikes on Islamic Revolutionary Guard Corps' command centers, missile and drone facilities, and defense sites in Iran in response to the latter's ballistic missile strikes on US forces in the Middle East.Back home, the UAE Capital Market Authority's board approved the removal of 15 fees to reduce costs and enhance regulatory services provided to licensed companies and individuals operating in capital markets.Over to corporates, Adnoc Drilling (ADX:ADNOCDRILL) logged a higher first-half attributable profit of $701.9 million, backed by a 4% year-over-year revenue growth, but closed the session flat. NMDC Group's (ADX:NMDC) attributable profit for the period fell 5%, with its stocks managing to close the session 3.23% in the green.Dubai-listed Tecom Group's (DFM:TECOM) profit and revenue for the six months ended June 30 jumped 9% and 11% respectively, due to higher occupancy and improved rental rates. Shares of the business district developer gained 1.80% at the time of closing.

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International

UAE Central Bank Keeps Base Rate at 3.65% in July

The Central Bank of the United Arab Emirates on Wednesday maintained the base rate applicable to the overnight deposit facility at 3.65%.Meanwhile, the interest rate applicable to borrowing short-term liquidity was kept at 50 basis points above the base rate for all standing credit facilities.The CBUAE's decision follows the US Federal Reserve's move to maintain the interest rate on reserve balances.

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Asia Markets

Emirati Equities Gain Ahead of US Fed's Monetary Policy Decision

Markets in the United Arab Emirates closed in the green on Wednesday as investors brace for the US Federal Reserve's highly anticipated monetary policy meeting later in the day.​At the close of trading, the FTSE ADX General Index was little changed at 0.048% in the green, while the DFM General Index gained 0.122%.The US Fed is expected to leave rates unchanged in the 3.50% to 3.75% range for the fifth consecutive meeting amid cooling but still-elevated inflation and looming uncertainty from the Middle East conflict. However, traders are also pricing in the possibility of a rate hike."Global markets will be bracing for the Fed meeting as we're bound to have a surprise, but the direction remains up for debate. Markets seem to settle at around a 30% probability of a hike, which means both a hold and a hike should push rates around," ING analysts said. "The narrative around the decision matters too, especially the stance of Fed Chair Kevin Warsh if the option to hike rates is chosen. He might not endorse the move but simply deliver it."On the geopolitical front, the US and Saudi Arabia carried out joint strikes on Iran-backed groups in Eastern Iraq in response to drone attacks on Saudi energy infrastructure. The escalating tensions in the Middle East faded hopes of a swift resolution and drove oil prices higher, with Brent crude oil futures up 4.88% as of 3:45 pm UAE time.Back home and on the corporate front, investors assessed first-half earnings reports from companies, including Americana Restaurants International (ADX:AMR) and Aldar Properties (ADX:ALDAR).Americana Restaurants International was the Abu Dhabi bourse's most traded stock by volume and closed 4.88% higher after it recorded a 59.2% year-over-year growth in attributable net profit. Aldar Properties also achieved a higher attributable profit for the period, backed by an 8% growth in revenue, but closed the session 2.35% in the red.Meanwhile in Dubai, Commercial Bank of Dubai (DFM:CBD) launched its new CBD Invest digital wealth offering to provide its elite and private banking customers with a detailed view of their financial position and enable them to manage their investment portfolios and make informed decisions. Shares of the Emirati lender gained 2.13% at closing.

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Asia Markets

UAE Shares Blink Red; Oil Prices Fall After US-Iran Strikes Ease

Stocks in the United Arab Emirates closed lower despite a suspension of hostilities between the US and Iran, sending oil prices down and lifting investor optimism for renewed peace talks.At the close of Tuesday trading, the FTSE ADX General Index fell 0.104%, while the DFM General Index lost 0.93%.Oil prices were trading lower after US President Donald Trump said talks with Iran are underway and there is a "good chance" of a deal. Trump also warned to resume military action if the talks fail."We have been in this position multiple times before, and so the market may be getting a bit ahead of itself. At the end of the day, there has been no improvement in tanker flows through the Strait of Hormuz. If this move lower is to be sustained, we will need to see a recovery in flows through the strait," ING said. "Furthermore, even in the event of a deal, one would expect that the market will need to continue to price in a large risk premium, given that recent events have demonstrated how quickly a deal can unravel."Brent crude oil futures stood at nearly $86.94 per barrel as of 3:38 pm UAE time, down 1.61% from the previous day.Zooming in at home, the Dubai International Financial Centre's number of active registered companies and regulated financial services firms grew to 10,018 and 1,134, respectively, for the first half.On the corporate side, Fertiglobe (ADX:FERTIGLB) logged a 237% year-over-year growth in attributable profit and a 59% increase in revenue for the first half amid higher market prices of urea and ammonia. The fertilizer company closed the session 0.38% higher.Elsewhere, United Securities LLC affirmed its buy rating on Emirates NBD Bank (DFM:EMIRATESNBD) and revised its price target to 36 Emirati dirhams per share, citing the lender's strong operational performance in the second quarter. Its shares lost 2.50% at closing.

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Asia Markets

Correction: Abu Dhabi, Dubai Stocks Begin US Fed Week in Green

(Corrects to remove Emirates Islamic Bank ticker)Shares in the United Arab Emirates closed Monday higher as investors shift their attention to the US Federal Reserve's upcoming interest rate decision due later in the week while keeping watch of the latest regional developments in the Middle East.At the close of trading, the FTSE ADX General Index was up 0.173%, while the DFM General Index added 0.987%.The US Fed will announce its interest rate decision on Wednesday, with markets expecting the federal funds rate to remain unchanged amid persistent inflation, volatile oil prices, and geopolitical risks."Our base case is that the Fed will stay on hold at 3.5-3.75% in July. But the spike in oil prices has made it a close call. With markets now pricing nearly 10bp of hikes in July, Chair Warsh faces a difficult choice. Not hiking could challenge the Fed's credibility on inflation. But raising rates would go against his framework of looking through supply shocks," BofA Global Research said. "We think July is Warsh's call as he has enough votes either way. He has strategic incentives to hike soon. We still expect three 25bp hikes, in Sep, Oct & Dec."Boosting investor sentiment is the temporary pause in the exchange of attacks between the US and Iran, raising hopes for renewed diplomatic talks. However, the Iran-backed Houthi forces attacked two energy facilities in Saudi Arabia in retaliation for the latter's air strikes on its military positions in Hodeidah.Back home and on the corporate front, FAB Securities reiterated its accumulate rating on the National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, with a price target of 10 Emirati dirhams per share, citing resilient profitability growth in the second quarter backed by an increase in net funded and non-funded income. Its shares closed the session 0.66% higher.Over in Dubai, Emirates Islamic Bank executed a host-to-host integration of its banking platform with Taaleem Holdings' (DFM:TAALEEM) enterprise resource planning system to enhance the latter's payment processes. Taaleem shares were 0.63% in the green at the time of closing.

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Asia Markets

Abu Dhabi, Dubai Stocks Begin US Fed Week in Green

Shares in the United Arab Emirates closed Monday higher as investors shift their attention to the US Federal Reserve's upcoming interest rate decision due later in the week while keeping watch of the latest regional developments in the Middle East.At the close of trading, the FTSE ADX General Index was up 0.173%, while the DFM General Index added 0.987%.The US Fed will announce its interest rate decision on Wednesday, with markets expecting the federal funds rate to remain unchanged amid persistent inflation, volatile oil prices, and geopolitical risks."Our base case is that the Fed will stay on hold at 3.5-3.75% in July. But the spike in oil prices has made it a close call. With markets now pricing nearly 10bp of hikes in July, Chair Warsh faces a difficult choice. Not hiking could challenge the Fed's credibility on inflation. But raising rates would go against his framework of looking through supply shocks," BofA Global Research said. "We think July is Warsh's call as he has enough votes either way. He has strategic incentives to hike soon. We still expect three 25bp hikes, in Sep, Oct & Dec."Boosting investor sentiment is the temporary pause in the exchange of attacks between the US and Iran, raising hopes for renewed diplomatic talks. However, the Iran-backed Houthi forces attacked two energy facilities in Saudi Arabia in retaliation for the latter's air strikes on its military positions in Hodeidah.Back home and on the corporate front, FAB Securities reiterated its accumulate rating on the National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, with a price target of 10 Emirati dirhams per share, citing resilient profitability growth in the second quarter backed by an increase in net funded and non-funded income. Its shares closed the session 0.66% higher.Over in Dubai, Emirates Islamic Bank (DFM:EIB) executed a host-to-host integration of its banking platform with Taaleem Holdings' (DFM:TAALEEM) enterprise resource planning system to enhance the latter's payment processes. Taaleem shares were 0.63% in the green at the time of closing.

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Saudi Arabia Trade Surplus Widens in May Amid Rising Oil Exports
US Markets

Saudi Arabia Trade Surplus Widens in May Amid Rising Oil Exports

Saudi Arabia's merchandise trade surplus widened further to 26.02 billion Saudi riyals in May, as oil exports increased and imports declined, data from the General Authority for Statistics showed Sunday.The surplus surged by 328.8% compared with the previous year and was up from April's revised amount of 22.76 billion riyals.Merchandise exports rose 3.9% year over year to 93.78 billion riyals, with a 19.5% rise in oil sales, lifting the commodity's share of overall exports to 75.6% from 65.7% in May 2025. Machinery, electrical equipment, and parts accounted for 22% of non-oil exports, though the segment's exports plunged by 31.6% compared with the prior year.China was the largest buyer of the kingdom's goods for the month, taking 12.3% of overall exports, followed by South Korea at 9.6% and the United Arab Emirates at 7.5%.Meanwhile, merchandise imports fell 19.5% to 67.76 billion riyals on an annual basis. Machinery and electrical equipment were also Saudi Arabia's top import, at 26.4% of the total, despite falling 28% year on year.China also served as the country's primary source of imports, providing 22% of all goods, with the US and Egypt accounting for 10.7% and 8.4%, respectively.

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Asia Markets

UAE Stocks Close Week Downbeat as Middle East Tensions Expand

Emirati shares closed the last trading session of the week on a downbeat note as escalating Middle East tensions and volatile oil prices take center stage once again.At the close of Friday trading, the FTSE ADX General Index lost 0.127%, while the DFM General Index was 0.208% in the red.US President Donald Trump said in a social media post that Iran will be held responsible and face "major military punishment" if the Houthis attack any ship in the Red Sea. Trump also mentioned that any damage inflicted on ships and cargo by Iran will be paid from its frozen assets."With little-to-no sign of de-escalation, the market is likely to take the path of least resistance for now. This suggests oil prices will only continue to move higher. The key question is at what price level pressure begins to build on the Trump administration to return to the negotiating table," ING said. "The potential supply disruptions facing the market now are larger than at any time during the war. Not only have oil flows through the Strait of Hormuz essentially dried up, but there are clear risks to Saudi oil flows from the Red Sea."Meanwhile, the US Central Command continued its attacks on Iran for the 13th consecutive night, targeting military command centers, drone storage facilities, communication networks, and coastal surveillance sites.Zooming in at home, the UAE will be subject to a 12.5% tariff from the US as part of the latter's efforts to prohibit the import of goods produced through forced labor practices. The tariff, set to take effect on Friday, ranges from 10% to 12.5% and includes over 60 countries.Turning to corporate news, Pure Health Holding (ADX:PUREHEALTH) teamed up with the National Multiple Sclerosis Society to support early diagnosis, enhance patient care, and advance global research for the treatment of Multiple Sclerosis. The Abu Dhabi-listed healthcare services company's shares closed the session 0.90% lower.Dubai Taxi Co.'s (DFM:DTC) first-half profit plummeted 67.7% year over year with a 14.7% decline in revenue due to low airport and tourism-related demand amid the ongoing regional developments in the country. Its shares were 0.94% in the red at the time of closing.

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Asia Markets

Emirati Bourses Close Higher as Financial Stocks Rally

Shares in the United Arab Emirates were back in the green on Thursday as the FTSE ADX General Index gained 0.708%, while the DFM General Index added 0.237%.With the earnings season in full swing, investors welcomed the latest corporate earnings reports from the region's major lenders, including First Abu Dhabi Bank (ADX:FAB) and Emirates NBD Bank (DFM:EMIRATESNBD).First Abu Dhabi Bank was the Abu Dhabi bourse's most traded by value during the session and closed 6.26% higher. The personal and private banking group recorded a higher first-half attributable net profit driven by a 7% annual growth in operating income.Emirates NBD Bank's attributable profit for the period also rose amid strong growth in net interest and non-funded income, supported by disciplined cost management. Its shares closed the session 3% in the green.In other news, DP World partnered with the Fujairah Ports Authority to develop the Al Rugaylat container and Dibba Al Fujairah Port in Fujairah under a 50-year concession agreement. The initiative aims to attract investment, enhance economic infrastructure, and create new job opportunities.Across the pond, the US Central Command concluded a 12th consecutive night of strikes on Iran amid no signs of de-escalation. Keeping sentiment subdued were US President Donald Trump's threats to bomb and destroy Iran's bridges and power plants if the Middle Eastern country attacked any ship in the Strait of Hormuz."So far, the official news organs in Iran report that Iran isn't backing down on its claims to the Strait of Hormuz and that its officials have even dismissed US President Donald Trump's claim that Iran is seeking to begin a new round of negotiations, effectively shutting down the reports of 'peace' that emerged first on Monday. So Brent crude is higher again today by about USD 4/bbl, and back up to the levels not seen since early June, before the US-Iran MoU was signed," Macquarie said in a note.

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Asia Markets

UAE Stocks Fall as Investors Weigh Corporate Earnings

Stock trading in the United Arab Emirates closed in the red as traders assessed the latest corporate earnings from the region.At the close of Wednesday trading, the FTSE ADX General Index lost 0.134%, while the DFM General Index fell 0.466%.The Abu Dhabi and Dubai bourses saw the release of first-half earnings reports from Emirates Mobility (ADX:EMOBILITY), Rapco Investment (ADX:RAPCO), and Ekttitab Holding Co. (DFM:EKTTITAB).Emirates Mobility recorded a lower attributable profit despite a 2% annual growth in revenue and ended 4.62% lower. Rapco Investment's profit for the period also slipped, with its shares ending the session flat. Ekttitab Holding, on the other hand, logged a wider attributable loss and declined 0.96% at closing.In other news, Dubai International Chamber launched a new office in Luanda, Angola, to bolster trade and investment ties with the country. The launch forms part of Dubai International Chamber's plans to establish 50 representative offices worldwide by 2030.On the geopolitical front, the US Central Command attacked Iran for the 11th consecutive night, while the latter claimed attacks on US bases in Jordan, Bahrain, and Kuwait. Oil prices continued to trade higher, hitting a six-week high as Brent crude oil futures stood at nearly $94.307 per barrel as of 3:35 pm UAE time, up 3.62% from the previous day."Hopes of a temporary ceasefire between the US and Iran faded after President Trump ruled out the prospect of immediate talks. Instead, we continue to see further escalation," ING analysts said. "Factoring in the renewed disruptions from the Persian Gulf, risks to Saudi crude exports from the Red Sea, and developments in the Black Sea, one may argue that Brent at just over US$91/bbl is undervalued. Particularly if these disruptions persist into August."

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Asia Markets

Emirati Shares Rebound Amid US-Iran De-escalation Hopes

Stocks in the United Arab Emirates rallied on Tuesday, buoyed by prospects of a de-escalation between the US and Iran.At the close of trading, the FTSE ADX General Index gained 0.347%, while the DFM General Index was 0.278% in the green.The US Central Command completed its 10th consecutive night of strikes on Iran, with US President Donald Trump stating in a social media post that the Middle Eastern country will pay "many times over" for the death of American soldiers. However, investors breathed a sigh of relief on news of a 10-day ceasefire proposed by mediators to resume negotiations between the two countries.Oil prices rose and were trading at nearly $90.567 per barrel at 3:40 pm UAE time after Yemen's Houthis threatened a naval blockade against Saudi Arabia, posing further risks of disruption in energy supplies."With the Gulf's primary maritime outlet largely closed, the market is increasingly dependent on Saudi Arabia's East-West pipeline and Red Sea terminals to maintain export flows. Any disruption at Bab el-Mandeb would therefore threaten not only Saudi shipments but one of the few remaining routes capable of compensating for the severe reduction in Hormuz traffic," Rystad Energy senior vice president and head of geopolitical analysis Jorge Leon commented. "If a ceasefire does not materialize and Hormuz remains largely closed while the Houthi threat to Red Sea shipping intensifies, the risk of a significant rebound in oil prices would be substantial."Turning to the region's corporate side, Aldar Properties (ADX:ALDAR) launched its new 592-apartment residential community named The Canopies on Yas Island in Abu Dhabi. Shares of the real estate developer closed the session 0.53% higher.Meanwhile in Dubai, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, awarded a contract for the development of a new district cooling plant in the Al Sufouh 2 area in Dubai. The Dubai-listed cooling services company's shares were 0.62% in the green at the time of closing.

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Asia Markets

UAE Shares Begin New Week Lower as Geopolitical Tensions Remain in Focus

Markets in the United Arab Emirates closed the first day of the new trading week in the red as the intensified exchange of attacks between the US and Iran over the weekend weighed on investor sentiment.At the close of Monday trading, the FTSE ADX General Index and the DFM General Index were down 0.315% and 0.304%, respectively."Over the weekend, the conflict has intensified markedly, with a fresh wave of tit-for-tat attacks underscoring how quickly the situation is deteriorating. Three US service members were killed in separate incidents in Jordan and Iraq, while US strikes hit targets including Qeshm Island and multiple locations in southern Iran. At the same time, Iran broadened its retaliation beyond military sites, targeting critical infrastructure across the Gulf, including power and desalination facilities in Kuwait, as well as launching drone and missile attacks towards US bases and regional allies. And prospects for any diplomatic breakthrough remained dim, with Iran's Foreign Minister Araghchi suggesting that some nuclear issues may 'remain unresolvable,'" Deutsche Bank Research said in a note.Back home, Dubai logged 252 billion Emirati dirhams worth of real estate transactions in the first quarter, up 31% year-on-year. Abu Dhabi, on the other hand, recorded 66 billion dirhams of such deals, representing a 160.7% growth on an annual basis. The investments were made by investors from the UK, India, China, Russia, and other European countries.Over to corporates, Ooredoo (ADX:ORDS) teamed up with Samsung Electronics' Samsung Gulf Electronics to expand the distribution of the electronics giant's Galaxy devices in Qatar. The Abu Dhabi-listed telecommunications company shares were flat at the time of closing.Elsewhere, GFH Bank (ADX:GFH, DFM:GFH) closed the session 0.51% higher on the Abu Dhabi bourse and 0.50% in the green on the Dubai Financial Market. The investment company named Rajeev Gogia as its group chief financial officer.

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Asia Markets

Abu Dhabi, Dubai Stocks Diverge as Continued US-Iran Strikes Spook Investors

United Arab Emirates indices struggled to find direction on Friday as markets weighed the renewed exchange of strikes between the US and Iran, which entered its sixth consecutive day.At the close of trading, the FTSE ADX General Index was somewhat muted but 0.003% in the green, while the DFM General Index fell 1.391%.The US Central Command launched another wave of strikes on Iranian air defenses and military logistics infrastructure on Thursday. Iran retaliated by attacking US bases in the Gulf and launching its first direct strikes on a special operations command center in Syria.Meanwhile, oil prices continue to trade higher as maritime traffic in the Strait of Hormuz remains largely halted due to the resumption of attacks and blockade of Iranian ports by the US."Our commodity strategists argue that crude oil supplies are sufficient to withstand a few weeks, if not months, of skirmishes in the Strait of Hormuz. Yet, if tensions do not abate, they estimate the oil price could nonetheless rise back above $100/bbl. They note that refined-product inventories are more depleted than those for crude, resulting in elevated crack spreads. This implies that the risk of a squeeze from energy prices is higher than a narrow focus on the crude oil market would suggest," BofA Global Research said in a note.Turning to the region's corporate side, shares of Burjeel Holdings (ADX:BURJEEL) closed the session 2.89% higher. The healthcare company's Burjeel Medical City facility partnered with the US's Roswell Park Comprehensive Cancer Center to develop a specialized thoracic surgery program in Abu Dhabi.Dubai-listed Talabat (DFM:TALABAT) returned to trading following a trading suspension due to the release of material information. Shares of the online food delivery company were 0.84% in the red at the time of trading's close.

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Asia Markets

UAE Stocks Blink Red as US-Iran Conflict Intensifies

Shares in the United Arab Emirates ended Thursday lower amid the continued exchange of attacks between the US and Iran, with no signs of easing.At the close of trading, the FTSE ADX General Index fell 0.51%, while the DFM General Index was 0.261% in the red.The US intensified its attacks on various Iranian targets, while the latter targeted US bases in Jordan, Kuwait, and Bahrain. The recent escalation is also driving volatility in oil markets as shipping through the Strait of Hormuz remains depressed."There has already been a significant drop-off in exports through the Strait since fighting resumed a week ago, with 7DMA flows down around 4.6 mb/d, to an average of 3.9 mb/d, and the IMO today stating the Strait is too dangerous for commercial vessels to cross. Even if President Trump opts for something of a strategic retreat, we do not see Hormuz traffic returning to pre-war levels as long as shippers have to contend with the threat of mines, missiles, drones, and Tehran tolls," RBC Capital Markets said.Back home and on the corporate front, shares of Gulf Pharmaceutical Industries (ADX:JULPHAR), d/b/a Julphar, closed the session 0.97% lower. The pharmaceutical company's unit, Planet Pharmacies, concluded the deal to sell its Oman-based Scientific Pharmacy business.Meanwhile, in Dubai, Salik (DFM:SALIK) and the Dubai Integrated Economic Zones Authority partnered to deliver seamless mobility services through access control systems and parking optimization tools at more than 21,000 parking spaces across Dubai Airport Freezone, Dubai Silicon Oasis, and Dubai CommerCity. Salik ended the session 0.18% higher.

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Asia Markets

Emirati Equities Close Mixed as US Inflation Cools

Stock trading in the United Arab Emirates ended in the opposite direction on Wednesday as the FTSE ADX General Index lost 0.211%, while the DFM General Index added 0.346%.The US inflation print for June came in softer-than-expected as headline CPI fell 0.4% monthly and grew 3.5% on an annual basis. Core CPI, on the other hand, remained flat for the month and rose 2.6% year over year."In light of today's lower inflation figures, which are the last important data point before the 29 July Fed meeting, it is highly likely that the US central bank will keep the key interest rate at 3.50-3.75%. For the rest of the year however, much will depend on future developments in the Middle East and energy prices. Nevertheless, we believe that both Trump and Iran are interested in de-escalation. This would eliminate the need for the Fed to raise the key interest rate this year," Berenberg said.On the oil front, shipping through the Strait of Hormuz remained stalled amid the continued exchange of attacks between the US and Iran. The US resumed its blockade of Iranian ports on Tuesday, while Iran's Islamic Revolutionary Guard Corps vowed to close more waterways in retaliation.Zooming in at home, the Dubai Multi Commodities Centre, or DMCC, partnered with Botswana Stock Exchange Group to support the trade of Botswana-based commodities in the international market under a signed memorandum of understanding.On the corporate side, shares of Sharjah Islamic Bank (ADX:SIB) closed the session 1.03% higher as FAB Securities affirmed its buy rating with a price target of 3.85 Emirati dirhams after its second-quarter net profit growth exceeded the financial services company's estimates.Dubai Islamic Bank (DFM:DIB) recorded a higher attributable net profit of 3.57 billion dirhams, driven by growth in both funded and non-funded income streams. Its shares were 0.79% in the green at the time of closing.

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Asia Markets

UAE Shares Slide Ahead of US Inflation Report

Markets in the United Arab Emirates closed in the red again as investors await the release of the latest US inflation print later in the day amid the recent surge in geopolitical tensions.At the close of Tuesday trading, the FTSE ADX General Index shed 0.52%, while the DFM General Index declined 1.281%."After climbing 0.5% in May and 4.2% on an annual basis, the CPI is expected to decline outright, by 0.1% in June, and rise 3.9% on an annual basis, potentially marking the smallest annual gain since April and the first sub-4% reading since April," Stifel commented. "Excluding food and energy prices, the core CPI is also expected to show improvement - or at least no further acceleration in June. The core is expected to rise 0.3% and increase 2.9% year-over-year, potentially matching the gain the month prior."On the geopolitical front, US President Donald Trump said in a social media post that the blockade of Iranian ports in the Strait of Hormuz will resume on Tuesday. Trump also stated that the waterway will remain open to all other countries and proposed charging a 20% fee on ships passing through the waterway.Closer to home, the UAE Ministry of Defence said Tuesday that two national oil tankers, Mombasa and Al Bahiyah, were hit by cruise missiles from Iran, inflicting material damage to both tankers and resulting in one casualty and injuries to eight other crew members.Turning to corporate news, the National Bank of Ras Al-Khaimah (ADX:RAKBANK), d/b/a Rakbank, renewed its collaboration with Mastercard to deliver improved payment services across retail, business, and wholesale banking. Shares of the Abu Dhabi-listed lender closed the session 0.22% lower.International Financial Advisors (DFM:IFA), d/b/a IFA, stocks ended flat at trading close. The financial advisory services group's board cleared a $5 million investment in Warba Data Centers Development Fund and a $4 million financing deal with an unnamed bank to fund the investment.

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Equities

OPEC: UAE's Monthly Crude Oil Production Up in June

The United Arab Emirates' crude oil production amounted to 3.8 million barrels per day in June, based on direct communication from the country, according to the Organisation of the Petroleum Exporting Countries, or OPEC.The amount marks an increase from the 2.1 million barrels per day of crude reported by the UAE in May, OPEC said in its latest Monthly Oil Market Report published Monday. The country previously announced its decision to leave OPEC, effective May 1.Meanwhile, Saudi Arabia told the organization that its supply to the oil market stood at 6.6 million barrels of crude per day in June, down from 7 million barrels per day a month before.Based on secondary sources, Russia's declaration of cooperation crude oil production stood at 8.9 million barrels per day in June, OPEC noted.

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Asia Markets

Abu Dhabi, Dubai Bourses in Red as US-Iran Attacks Continue

Emirati Equities welcomed the new trading week in negative territory as the escalating hostilities in the Middle East weighed on investor sentiment.At the close of Monday trading, the FTSE ADX General Index fell 0.326%, while the DFM General Index lost 1.243%.Tensions between the US and Iran further escalated after both countries exchanged strikes over the weekend. The US Central Command attacked dozens of Iranian air defenses, radar, and missile sites, while the latter retaliated by striking US bases in the Gulf.Oil prices also rose after Iran claimed closure of the Strait of Hormuz and warned vessels against passing through it, reigniting fears of further disruption in supply."Oil prices are getting an additional boost this morning, with ICE Brent up around 4% at the time of writing amid increasing tensions in the Persian Gulf. It was another weekend of the US and Iran exchanging strikes. Clearly, the risk is that this escalates to levels seen early in the war, where neighbouring countries and their energy infrastructure are also targeted," ING said. "Escalation has slowed vessels transiting the strait to a trickle, renewing concerns over oil supply tightness through the third quarter."Back home and on the corporate front, Anan Investment Holding (ADX:ANAN) appointed BHM Capital Financial Services (DFM:BHMCAPITAL) as its liquidity provider for stocks listed on the Abu Dhabi bourse. Anan Investment ended 0.81% lower, while BHM Capital Financial Services ended the session 1.86% in the green.Elsewhere, Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, closed the session 0.62% higher as it received a contract to supply district cooling services for the Mercedes-Benz Places Binghatti City project in Dubai.

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Equities

Update: Market Chatter: Adnoc to Raise Offshore Oil Rates for Collection Outside Hormuz

(Updates to add Adnoc's statement)Abu Dhabi National Oil Co., d/b/a Adnoc, will offer increased rates for oil collected at Fujairah, located outside the Strait of Hormuz, instead of its usual terminals inside the Persian Gulf, Bloomberg News reported on Monday, citing a price sheet.The oil giant will reportedly price oil collected at Fujairah based on the Dubai benchmark for August. The Upper Zakum and Das crudes are said to be sold at the Dubai price plus $0.80 per barrel, while the Umm Lulu crude will be offered at the Dubai price plus $1.00 per barrel.Adnoc toldit does not comment on commercial matters.(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.)

^FADGI
Equities

Market Chatter: Adnoc to Raise Offshore Oil Rates for Collection Outside Hormuz

Abu Dhabi National Oil Co., d/b/a Adnoc, will offer increased rates for oil collected at Fujairah, located outside the Strait of Hormuz, instead of its usual terminals inside the Persian Gulf, Bloomberg News reported on Monday, citing a price sheet.The oil giant will reportedly price oil collected at Fujairah based on the Dubai benchmark for August. The Upper Zakum and Das crudes are said to be sold at the Dubai price plus $0.80 per barrel, while the Umm Lulu crude will be offered at the Dubai price plus $1.00 per barrel.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.)

^FADGI

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