UAE markets fall but Dubai index ends May at multi-year high
Dubai's main share index ended May at its highest level since July 2008, even as global trade uncertainty and concern over an economic slowdown weighed on sentiment in Friday's session.
Oil prices - a catalyst for Gulf markets - were flat on Friday and heading for a second consecutive weekly loss, as investors weigh a potentially larger OPEC+ output hike for July, and uncertainty spreads around U.S. tariff policy after the latest courtroom twist.
United Arab Emirates' markets settled lower on Friday, with Dubai's index retreating 0.22% and Abu Dhabi's benchmark index ending 0.62% lower, although the market ended the month at its highest level since March 2024.
Abu Dhabi's index also recorded a seventh consecutive weekly session of gains.
Ratings agency Fitch warned on Thursday that Dubai real estate prices are likely to face a double-digit fall in the second half of the year and in 2026.
The Gulf's business and tourism hub, Dubai has experienced a post-pandemic property boom, fuelled by foreign investment and government-led residency reforms, which have helped send real estate prices soaring.
Real estate development company Emaar Properties fell 1.13% on Friday. Healthcare and education investment company Amanat Holding was the biggest loser on the index, down 2.78%.
All other Gulf markets are closed on Friday.
-------------------------------------- ABU DHABI down 0.62% to 9,685.1 DUBAI down 0.22% to 5,480.51 --------------------------------------
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