Mideast Stocks: Saudi Arabia's stocks fall, most other Gulf markets flat
Dubai's main share index gained 0.42% and was poised to log gains for the sixth straight week, while Abu Dhabi's benchmark index rose 0.2% on Friday.
Earlier this week, investor sentiment was boosted by a surge in optimism, driven by a U.S.-China trade breakthrough and a series of high-profile investment deals during U.S. President Donald Trump's Gulf visit.
But by Thursday, the enthusiasm faded, with Asia-Pacific shares outside of Japan trading flat and European shares bracing for a subdued opening on the day.
Oil prices, a catalyst for the Gulf's financial markets, continued their decline. Brent crude futures lost 18 cents after falling 2% on Thursday, pressured by oversupply concerns.
As of Thursday's close, Saudi Arabia's benchmark stock index closed the week higher.
In Dubai, on Friday, Shuaa Capital soared 8% after swinging to a net profit of 196 million ($53.4 million) in the first quarter from a 161 million-Dirham loss in the previous quarter. The investment banking platform was the top gainer on the index.
($1 = 3.6726 UAE dirham)
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'Lower fossil fuel prices effectively make renewables seem more expensive, but to flip it on its head: all the airlines in the room are saving so much money on their fossil jet [fuel], you've maybe got a bit more in your budget to invest more in SAF,' he told a panel about the energy transition. Iata also criticised plane manufacturers that have failed to deliver new fuel-efficient jets on time, forcing airlines to keep older planes flying for longer. 'Aircraft and engine manufacturers must make good on their promises to bring greater efficiency and carbon-reducing technologies to market fast,' Mr Walsh said. 'By the time we meet next year, we must be able to show more progress.'
