UAE Stocks Blink Green; Dubai Bourse Secures Finma's Foreign Trading Venue Recognition
United Arab Emirates equities were back in the green on Tuesday as investors breathed a sigh of relief after both Iran and Israel halted direct attacks on each other.At the close of trading, the FTSE ADX General Index was up 0.817%, while the DFM General Index added 0.879%.Oil prices dropped after Iran declared an end to its military operation against Israel, with the latter also stopping its attacks on the Middle Eastern country. The end of attacks follows a request from US President Donald Trump on Monday.On the economic calendar this week is the release of the US consumer price index report for May on Wednesday. Analysts are expecting a 0.5% monthly rise with a 4.2% annual increase in headline inflation, while core CPI is expected to rise to 0.3% monthly and 2.9% annually.Closer to home and on the corporate front, stocks of Agility Global (ADX:AGILITY) ended flat. The investment and asset management company's unit, Tristar, obtained a new $770 million credit facility from regional and international banks to refinance existing facilities and support general corporate purposes.Meanwhile, Dubai Financial Market (DFM:DFM) was recognized as a foreign trading venue by the Swiss Financial Market Supervisory Authority, or FINMA, providing the latter's participants with access and enabling trading of Swiss companies' securities on the Emirati trading platform. The bourse operator's shares closed the session 2.84% higher."FINMA's recognition of DFM is a significant milestone in our strategy to broaden international access to our market and implement Dubai's vision to develop its capital markets. It opens a direct, regulated pathway for Swiss financial institutions to connect to our ecosystem and creates new opportunities around Swiss-incorporated securities, reinforcing Dubai's position as a globally connected capital-markets hub," Dubai Financial Market Chief Executive Officer Hamed Ali commented.