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.