DFM:BHMCAPITAL

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Geopolitical Uncertainties, Volatile Oil Prices Weigh on Emirati Stocks

Markets in the United Arab Emirates closed lower on Monday as the FTSE ADX General Index declined 1.202%, while the DFM General Index shed 1.738%.Oil prices climbed amid no hopes for an end to the Iran war. US President Donald Trump said in a social media post that the "clock is ticking" for Iran to make a deal, and "there won't be anything left of them," if an agreement is not reached."The oil market continues to reprice ongoing supply disruptions, with last week's Trump-Xi talks yielding no tangible progress in the Middle East. There had been hope (possibly misplaced) that China could use its influence over Tehran to break the deadlock between the US and Iran. If anything, re-escalation risks are increasing, with a drone strike on the UAE's only nuclear power plant over the weekend," ING said.As of 3:31 pm UAE time, the Brent crude oil futures stood at nearly $110.591 per barrel, up 1.22% from the previous day.Closer to home, the UAE's Ministry of Defence said Sunday that investigations are being carried out to confirm the source of the three drones, two of which were intercepted and one led to a fire at an electrical generator outside the inner perimeter of the Barakah nuclear power plant in Abu Dhabi. The ministry added that the drones entered the country from the western border.Over to corporates, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, finalized the sale of a 49% stake in transportation and mobility services company Massar Solutions to BlueFive Capital. Shares of the energy company closed the session 3.91% in the red.Meanwhile, in Dubai, BHM Capital Financial Services (DFM:BHMCAPITAL) recorded a 22% and 38% year over year growth in its net profit and total revenue, respectively, for the three months ended March 31. The financial and investment company's stocks ended flat.

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Asia Markets38d ago

Emirati Stocks End Week Downbeat as Fresh US-Iran Attacks Weigh on Market Sentiment

Markets in the United Arab Emirates ended Friday's trading session in negative territory as investors turned cautious amid renewed attacks between the US and Iran.At the close of trading, the FTSE ADX General Index fell 0.370%, while the DFM General Index was 0.50% in the red.Iran attacked three US warships in the Strait of Hormuz, and the US Central Command retaliated with attacks on Iranian military facilities involved in the strikes, diminishing markets' hopes for a peace deal and a stable ceasefire.The exchange of attacks follows reports that Iran is reviewing a US proposal and is expected to respond through Pakistan. US President Donald Trump also said in a social media post on Friday that the US will knock Iran "a lot harder, and a lot more violently" if a deal is not signed."Market optimism is fading again, after some military skirmishes in the Strait of Hormuz and the US restarting its escorting programme. There is still some hope that a deal will be agreed before the 14-15 May US-China summit, but risks are clearly very binary for USD crosses at this stage," ING said. "If this proves to be another episode of misplaced optimism on a US-Iran deal, not only does the dollar have plenty of upside room to recover, but there's a good chance investors will prove more cautious and won't jump as aggressively into de-escalation trades without concrete progress in negotiations."Closer to home, the UAE's Ministry of Defence said in a Friday statement that the country's air defense systems engaged two ballistic missiles and three unmanned aerial vehicles from Iran.On the corporate side, Emirates Driving Co. (ADX:DRIVE) rebranded to Emirates Mobility Co. as part of its strategic transformation into an integrated mobility ecosystem. Shares of the driving school operator closed the session 1.59% lower.Over in Dubai, Emirates Integrated Telecommunications Co. (DFM:DU), d/b/a du, closed 3.13% in the green. The telecommunications company appointed BHM Capital Financial Services (DFM:BHMCAPITAL), whose shares closed the session flat, as its liquidity provider.

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Asia Markets54d ago

Abu Dhabi, Dubai Shares Fall; US Extends Iran Ceasefire

Emirati shares ended Wednesday's trading session in the red as investors remained cautious amid the uncertainty over peace talks between the US and Iran.At the close of trading, the FTSE ADX General Index was down 0.764%, while the DFM General Index dropped 1.059%.US President Donald Trump said that he extended the ceasefire with Iran and will continue with the blockade of its ports until a "unified proposal" is submitted and discussions are finalized.Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi said in a social media post that the blockade of Iran's ports is an "act of war" and a violation of the ceasefire agreement. Araghchi also mentioned that the country knows how to neutralize these restrictions."War headlines remain very inconclusive. President Trump's announcement of a last-minute ceasefire extension likely validates some degree of optimism that hasn't left USD crosses despite the deadline approaching. But the situation in the Strait of Hormuz remains as unclear as ever, with the US blockade still in place and reports that a UK container ship was shot at by the Iranians yesterday," ING said.Back home and on the corporate front, Palms Sports (ADX:PALMS) closed 2.69% lower. The sports management company reported a higher first-quarter attributable profit of 18.6 million Emirati dirhams, backed by a growth in contract expansions and effective cost management.Over in Dubai, BHM Capital Financial Services (DFM:BHMCAPITAL) approved a total shareholder distribution of 20%, comprising 5% cash dividends and 15% bonus shares, for 2025. Shares of the financial services group were 5.51% in the green at closing.

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