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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 Close Mixed Ahead of PMI Data

United Arab Emirates shares ended on both sides of the spectrum as investors will shift their focus to the upcoming release of the country's key economic indicator.At the close of Thursday trading, the FTSE ADX General Index added 0.216%, while the DFM General Index lost 0.324%.Investors will await the release of the closely-watched UAE S&P Global Purchasing Managers' Index data for June on Friday to see how the region's non-oil private sector performed amid the ongoing uncertainties in the Middle East. The data inched up to 52.6 in May from 52.1 in April.On the geopolitical front, Qatar's Foreign Ministry spokesperson Majed Al-Ansari said in a social media post that "positive progress" was made on certain aspects of the US and Iran's June memorandum of understanding during the indirect low-level technical talks held in Doha on Wednesday.Closer to home, the UAE's Ministry of Finance listed the country's inaugural sovereign retail T-sukuk on Nasdaq Dubai. The oversubscribed offering received subscription requests of 445 million Emirati dirhams, resulting in the increase of the issue size to 100 million dirhams from 50 million dirhams."The listing of the UAE's inaugural Sovereign Retail T-Sukuk Programme marks an important step in the continued development of the country's capital markets. By lowering the barrier to entry for government-backed fixed-income investments and bringing them to a transparent, regulated marketplace, this programme opens the door for more individuals to participate in an asset class that has traditionally been beyond the reach of many retail investors," Nasdaq Dubai and Dubai Financial Market Chief Executive Officer Hamed Ali commented.On the corporate side, Burjeel Holdings (ADX:BURJEEL) finalized the issue of its $500 million Regulation S senior unsecured sukuk due 2031 as part of its efforts to diversify its funding sources and bolster its capital structure. Its shares closed 2.63% lower.Dubai-listed lender Mashreq Bank (DFM:MASQ) partnered with Sukoon Insurance (DFM:SUKOON) to launch an embedded insurance service for small- to medium-enterprise customers. Mashreq Bank shares ended 0.78% in the red, while Sukoon Insurance closed the session flat.

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Asia Markets

UAE Shares in Red Ahead of Key US Economic Data

Stocks in the United Arab Emirates ended lower as markets await the release of key economic data from the world's biggest economy later in the day.At the close of Thursday trading, the FTSE ADX General Index declined 1.174%, while the DFM General Index shed 1.431%.The US Bureau of Economic Analysis will release the personal consumption expenditures price index reading for May on Thursday. The data, which is the Federal Reserve's preferred measure of inflation, is expected to increase 0.5% in May and 4.1% on an annual basis, while core CPI is expected to rise 0.3% monthly and 3.4% year over year.On the geopolitical front, US President Donald Trump said in a social media post that Iran informed the US that it is not receiving tolls, insurance costs, and other charges from vessels passing the Strait of Hormuz. Trump also vowed to end negotiations in case the information turns out to be false."Oil prices continue to ease amid reports of further improvement in conditions overseas. According to vessel-tracking data compiled by Bloomberg, seven tankers have crossed the Strait of Hormuz or were in the strait yesterday, while separately, data analytics company Kpler reported 39 ships moved through the chokepoint on Monday," Stifel said in a note. "Both the U.S. and Iran have signaled broad-based progress toward ending the war. That being said, the situation remains delicate as negotiations continue."Closer to home, the Dubai Financial Services Authority, or DFSA, recorded a 16% year-over-year growth in licensed and registered firms in 2025, bringing the total number to 1,050.Over to corporates, shares of Burjeel Holdings (ADX:BURJEEL) ended 1.71% lower. The healthcare company priced its $500 million offering of Regulation S five-year senior unsecured sukuk for local and international investors.Meanwhile, in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU) d/b/a du, delivered the first deployment of 5G-advanced services over L-Band spectrum to boost spectrum efficiency and enhance network capacity and quality. Shares of the telecommunications company closed the session 0.87% in the red.

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Asia Markets

Abu Dhabi, Dubai Stocks Blink Red; Oil Prices Fall as US Eases Iran Sanctions

Markets in the United Arab Emirates ended lower on Tuesday as the FTSE ADX General Index shed 0.11%, while the DFM General Index lost 1.269%.Oil prices dropped after the US issued a 60-day sanctions waiver to allow the export of Iranian oil. The lifting of sanctions is one of Iran's demands in the memorandum of understanding signed with the US to reach a final deal."Looking ahead, the key uncertainty remains how quickly oil flows through the Strait of Hormuz can normalise. Obviously, this depends on how quickly upstream oil production in the Persian Gulf can return," ING said. "Clearly, the evolution of US-Iran talks will be crucial to how quickly energy flows resume. As we've seen in recent days, the ceasefire remains fragile. There's a very real risk of a further flare-up in tensions."As of 3:27 pm UAE time, the Brent crude oil futures stood at nearly $77.906 per barrel, up 0.01% from the previous day.Zooming in at home, Abu Dhabi's Department of Health and French biopharmaceutical company Sanofi signed a memorandum of understanding to evaluate the development of a vaccine innovation center in Abu Dhabi in a bid to bolster vaccine discovery capabilities, messenger ribonucleic acid research, and clinical development and manufacturing.Over to corporates, Burjeel Holdings (ADX:BURJEEL) launched its $1.50 billion trust certificate issuance program on the London stock exchange through its special purpose vehicle Burjeel Sukuk. Shares of the Emirati medical group closed the session 0.86% lower.Meanwhile, in Dubai, shares of International Financial Advisors (DFM:IFA) ended 0.17% in the green as it canceled its ordinary general assembly scheduled on June 29 due to the withdrawal of certain candidates and decided to restart a one-month nomination process.

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Asia Markets

UAE Indices Gain Amid Corporate Earnings Buzz

Stock trading in the United Arab Emirates closed higher as investors digested a fresh batch of corporate earnings from the region.At the close of Thursday trading, the FTSE ADX General Index was little changed at 0.016% in the green, while the DFM General Index was up 0.567%.The Emirati bourses saw the release of first-quarter earnings reports from companies operating across various industries, such as International Holding Co. (ADX:IHC), d/b/a IHC, Bank of Sharjah (ADX:BOS), Burjeel Holdings (ADX:BURJEEL), and Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower.IHC declined 0.49% despite a 33.2% year-over-year growth in revenue. Bank of Sharjah delivered a record performance for the quarter, backed by growth in net interest income and solid credit risk management, but closed the session 1.55% in the red.Meanwhile, Burjeel Holdings and Emirates Central Cooling Systems both reported higher attributable profits and revenue and ended flat and 7.19% higher, respectively.The UAE and Japan agreed to hold ministerial talks on expanding joint crude oil stockpiles in the country and increasing UAE crude supplies, Reuters reported, citing the Japanese industry ministry.On the geopolitical front, Iran said it was reviewing a US proposal and will respond through Pakistani mediators. US President Donald Trump also said in a social media post that a deal will open the Strait of Hormuz for everyone, including Iran, and that the latter will face attacks at a "much higher level and intensity" if an agreement is not reached."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices. However, the physical market does not run on political timelines. Even under an optimistic scenario involving a 30-day phased reopening of the Strait of Hormuz, meaningful volume recovery would happen in June at the earliest, with processing port arrivals lagging by an additional four to six weeks after that," Rystad Energy's Chief Oil Analyst Paola Rodriguez-Masiu commented. "Global markets should not mistake a ceasefire headline for a supply headline."

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