-- Stock trading in the United Arab Emirates ended in the green on Tuesday, buoyed by positive sentiment regarding the resumption of peace talks between the US and Iran.
At the close of trading, the FTSE ADX General Index was up 0.197%, while the DFM General Index added 0.276%.
Oil prices dropped 0.36% to $95.129 per barrel on Tuesday at 3:43 pm UAE time amid reports from multiple media outlets that the US and Iran will resume their peace talks on Wednesday.
"Negotiations between the US and Iran are set to resume in Pakistan, with US Vice President JD Vance set to attend. It appears Iran will send a delegation too. This follows earlier suggestions that Iran wouldn't attend as long as the US blockade continues. These talks are important, with the current ceasefire set to end on Wednesday," ING said. "President Trump has suggested he is unlikely to extend the ceasefire. Therefore, a lack of progress would likely push oil and gas prices higher. This would create significant uncertainty over when energy flows through the Strait of Hormuz might return to normal."
Back home, the Dubai International Financial Centre, or DIFC, plans to integrate artificial intelligence across its legal and regulatory frameworks, operations, and talent development systems, becoming the first AI-native financial center globally.
Over to corporates, shareholders of Dana Gas (ADX:DANA) approved the distribution of a cash dividend of 0.065 Emirati dirham per share for 2025. Shares of the natural gas company closed the session 2.66% higher.
Deyaar Development (DFM:DEYAAR) stocks ended 0.80% in the red at closing. The real estate group handed over three residential and hospitality projects comprising a total of 1,436 units in Dubai.