-- Shares in the United Arab Emirates were back in the green as prospects of peace talks resumption between the US and Iran lifted investor sentiment.
At the close of Tuesday trading, the FTSE ADX General Index was up 0.556%, while the DFM General Index added 0.904%.
Multiple media outlets reported that the US and Iran could return to Pakistan this week to hold a fresh round of talks after achieving no breakthrough in their previous negotiations. US President Donald Trump also said that Iran reached out to resume negotiations amid the US blockade of its ports.
"The fact that the two sides seem to be discussing the timeline, and apparently back-channel diplomacy has continued, we think a deal is possible but it will most likely require several rounds of talks, and meanwhile, the war could escalate," Danske Bank said in a note.
Zooming in at home, the Central Bank of the UAE agreed to collaborate with Bangko Sentral ng Pilipinas to streamline cross-border payments, bolster bilateral trade, and establish infrastructure for finance and digital assets.
On the corporate side, Aldar Properties (ADX:ALDAR) was the Abu Dhabi bourse's most traded stock by value and ended 3.70% in the green. The real estate developer launched the first phase of the Yas Park Place residential community in Yas Island.
Elsewhere, Parkin Co. (DFM:PARKIN) partnered with Binghatti Holding to integrate its advanced parking capabilities into a portfolio of 1,200 parking spaces across Binghatti developments in the Jumeriah Village Circle, Al Jaddaf, and Business Bay areas. The parking spaces operator's stocks closed the session 3.00% higher.