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ADX:ADNOCGAS

6 stories mentioning ADX:ADNOCGAS

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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.

^DFMGI^FADGIADX:ADNOCGASDFM:SUKOON
Equities

FAB Keeps Adnoc Gas at Buy After 'Resilient' Q1 Results

FAB Securities maintained its investment opinion on Adnoc Gas (ADX:ADNOCGAS) as it took note of the natural gas distribution company's first-quarter earnings."We maintain our BUY rating on ADNOCGAS with a target price of AED 4.30. ADNOC Gas delivered a resilient operational and financial performance in 1Q26, despite a challenging geopolitical backdrop that disrupted regional trade activity and export operations," analysts said in a Monday note. "The temporary closure of the Strait of Hormuz during March 2026 materially impacted LNG, LPG and Naphtha exports, resulting in lower sales volumes and softer earnings during the quarter. However, the Company continued to benefit from its integrated infrastructure, operational flexibility and resilient domestic gas business," FAB added.The Abu Dhabi-listed company logged a 15% year-over-year decline in first-quarter net profit to $1.08 billion, surpassing the research firm's $1.01 billion estimate. Adnoc Gas' net revenue decreased 13.6% annually to $4.03 billion, compared with FAB Securities' $4.06 billion forecast.

ADX:ADNOCGAS
Equities

Adnoc Gas Targets 80% Restoration of Abu Dhabi Site by 2026-end

Adnoc Gas (ADX:ADNOCGAS) expects to restore 80% of processing capacity at its site in Habshan, Abu Dhabi, by the end of 2026, following two security-related incidents in April.The natural gas distribution company said Tuesday with its first-quarter results that the site is currently operating at 60% capacity, with full restoration targeted for 2027.

ADX:ADNOCGAS
Asia Markets

Abu Dhabi, Dubai Shares End Lower as Corporate Earnings Remain in Focus

Stocks in the United Arab Emirates ended lower as investors dissected the latest earnings reports from the region to assess the impact of ongoing geopolitical tensions on the companies' profits.At the close of Tuesday trading, the FTSE ADX General Index lost 0.905%, while the DFM General Index shed 0.641%.Adnoc Gas (ADX:ADNOCGAS), Lulu Retail (ADX:LULU), and Abu Dhabi Aviation (ADX:ADAVIATION) all recorded lower first-quarter attributable profits. Stocks of Adnoc Gas and Lulu Retail closed the session 2.96% and 3.30% in the red, respectively, while Abu Dhabi Aviation gained 0.58%.Over to Dubai, Deyaar Development (DFM:DEYAAR) and Talabat's (DFM:TALABAT) attributable profits for the period also dropped year over year. Deyaar Development shed 1.10%, while Talabat lost 1% at the close of trading.Conversely, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, logged a higher attributable profit for the quarter and an 8.18% year-over-year growth in revenue. Its shares closed 2.96% in the green."DEWA delivered an exceptional start to 2026, achieving its highest-ever first-quarter revenue, EBITDA, operating profit and net profit. Consolidated net profit for the first quarter increased by nearly 90% compared with the same period last year, while clean energy accounted for 18.5% of total power generated during the quarter. We had a record quarterly revenue of AED 6.45 billion, EBITDA of AED 2.88 billion, operating profit of AED 1.29 billion and net profit of AED 0.94 billion," Dewa's Chief Executive Officer Saeed Mohammed Al Tayer commented.Across the pond, US President Donald Trump is set to meet his Chinese counterpart, Xi Jinping, this week. The two leaders are expected to discuss tensions over Iran, Taiwan, nuclear weapons, and artificial intelligence."President Trump warned the ceasefire with Iran is 'on life support' after Tehran's counterproposal. Brent crude is trading around USD105/bbl this morning, extending gains from yesterday's session. Trump is reportedly meeting his national security team to consider next steps, including a possible resumption of military action and a renewed naval mission in the Strait of Hormuz. The conflict is also likely to be on the agenda when he meets President Xi Jinping this week," Danske Bank said.

^DFMGI^FADGIADX:ADAVIATIONADX:ADNOCGASADX:LULUDFM:DEWADFM:DEYAARDFM:TALABAT
Equities

Adnoc Gas Posts Lower Q1 Profit, Revenue

Adnoc Gas (ADX:ADNOCGAS) said Tuesday its profit and revenue for the first quarter fell year over year.Profit for the three months ended March 31 was $1.08 billion, compared with $1.27 billion a year ago. EPS moved to $0.014 from $0.017.The Abu Dhabi-listed natural gas distribution company's revenue was $4.03 billion, compared with $4.67 billion earlier.Meanwhile, the board declared a dividend of 0.045 dirham per share for the quarter, payable June 5 to shareholders of record on May 21.Looking ahead, Adnoc Gas expects full-year 2026 net income to range from $3.5 billion to $4.0 billion.

ADX:ADNOCGAS
Equities

Adnoc Gas Confirms Habshan Complex in Abu Dhabi Attacked Last Week

Natural gas distributor Adnoc Gas (ADX:ADNOCGAS) said Thursday that its Habshan complex in Abu Dhabi was attacked on April 8.The operations at the gas processing hub were temporarily halted as the company worked to put out several fires. The company noted that supply is substantially restored and it is "engaging with customers on a case-by-case basis."Adnoc Gas is evaluating the impact and the costs of damage to the facilities involved, it added.

ADX:ADNOCGAS