UAE Stocks in Green Amid Geopolitical Tensions, Oil Jitters
Stocks in the United Arab Emirates closed higher on Tuesday, as investors shrugged off continued jitters over the US-Iran agreement and oil price volatility.At the close of trading, the FTSE ADX General Index added 0.215%, while the DFM General Index was somewhat muted but up 0.037% in the green.US President Donald Trump expressed no interest in renewing the 60-day memorandum of understanding signed with Iran in June. Trump also threatened military action on Oman if it intervenes in its efforts to reopen the Strait of Hormuz.Reuters reported Monday, citing a senior Iranian official, that Iran will shift to a "fully offensive" military stance as diplomatic efforts to finalize a deal with the US stalled. The media outlet also cited Iranian negotiator Mohammad Baqer Qalibaf on Tuesday, saying that Iran will keep the Strait of Hormuz closed until the US fulfills its conditions, including removal of naval blockade and sanctions, release of frozen assets, and an end to military action on all fronts."With both sides still far apart, investors grew pessimistic that the Strait of Hormuz would properly reopen any time soon. So that meant Brent crude oil prices (+2.65%) rose to $90.87/bbl by the close, their highest level since late July," Deutsche Bank Research said. "In other words, investors are pricing in a more protracted period of higher oil prices again."Zooming in at home, the UAE Central Bank reported a 17.1% increase in the country's banking system's total assets to 5.3 trillion Emirati dirhams at the end of 2025, with a 17.8% growth in loan portfolio. Net profits of the banking system rose 11.7% year-over-year to 90.8 billion dirhams in 2025.Over to corporates, Agility Global (ADX:AGILITY) said that it is exploring options, including a sale, for its Tristar business and is in active discussion with interested parties. Shares of the Abu Dhabi-listed investment and asset management company closed the session 2.99% higher.Emaar Properties (DFM:EMAAR) was the Dubai bourse's most traded stock by value and closed the session 0.18% in the green. The real estate developer's subsidiary Emaar Hospitality Group will launch its Vida Aljada five-star hotel in Sharjah in 2026.
