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Business Recorder
02-05-2025
- Business
- Business Recorder
UAE index gain on possible trade talks between US and China
Stock markets in the United Arab Emirates closed higher on Friday as signs of possible trade talks between the U.S. and China lifted market sentiment. China said on Friday the United States has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks, in a move that could ease trade tensions that have roiled global markets. Dubai's main index settled 0.4% higher, rebounding from the previous session's loss, helped by gains in heavyweight real estate and industrial sector stocks. Among the winners, blue-chip developer Emaar Properties increased 1.5% and toll gate operator Salik Company finished 1.4% up. Stock exchange operator Dubai Financial Market climbed 4.4% after the firm reported a 42% surge in first-quarter net profit to 127 million dirhams ($34.58 million). Most Gulf markets gain ahead of earnings, US data Abu Dhabi's benchmark index extended gains to fifth session in a row with the index rising 0.2%, lifted by a 2.5% jump in each of IHC-owned conglomerate Alpha Dhabi Holding and Adnoc Drilling. Among the gainers, Adnoc Gas rose 0.6% ahead of its Q1 earnings expected later in the day. Dubai index notched up 2.5% on a weekly basis, while Abu Dhabi gained 2%, its highest weekly gain since Nov. 3, 2023, according to LSEG data. Oil prices - a key catalyst for Gulf's financial markets - declined on Friday with Brent crude sliding 0.69% to $61.7 a barrel by 1136 GMT. --------------------------------- Abu Dhabi up 0.2% to 9,579 Dubai rose 0.4% to 5,291 ---------------------------------
Zawya
02-05-2025
- Business
- Zawya
Mideast Stocks: UAE index gain on possible trade talks between US and China
Stock markets in the United Arab Emirates closed higher on Friday as signs of possible trade talks between the U.S. and China lifted market sentiment. China said on Friday the United States has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks, in a move that could ease trade tensions that have roiled global markets. Dubai's main index settled 0.4% higher, rebounding from the previous session's loss, helped by gains in heavyweight real estate and industrial sector stocks. Among the winners, blue-chip developer Emaar Properties increased 1.5% and toll gate operator Salik Company finished 1.4% up. Stock exchange operator Dubai Financial Market climbed 4.4% after the firm reported a 42% surge in first-quarter net profit to 127 million dirhams ($34.58 million). Abu Dhabi's benchmark index extended gains to fifth session in a row with the index rising 0.2%, lifted by a 2.5% jump in each of IHC-owned conglomerate Alpha Dhabi Holding and Adnoc Drilling. Among the gainers, Adnoc Gas rose 0.6% ahead of its Q1 earnings expected later in the day. Dubai index notched up 2.5% on a weekly basis, while Abu Dhabi gained 2%, its highest weekly gain since Nov. 3, 2023, according to LSEG data. Oil prices - a key catalyst for Gulf's financial markets - declined on Friday with Brent crude sliding 0.69% to $61.7 a barrel by 1136 GMT. Abu Dhabi up 0.2% to 9,579 Dubai rose 0.4% to 5,291 ($1 = 3.6729 UAE dirham)
Reuters
02-05-2025
- Business
- Reuters
UAE index gain on possible trade talks between US and China
May 2 (Reuters) - Stock markets in the United Arab Emirates closed higher on Friday as signs of possible trade talks between the U.S. and China lifted market sentiment. China said on Friday the United States has repeatedly expressed its willingness to negotiate on tariffs and that Beijing's door is open for talks, in a move that could ease trade tensions that have roiled global markets. Dubai's main index (.DFMGI), opens new tab settled 0.4% higher, rebounding from the previous session's loss, helped by gains in heavyweight real estate and industrial sector stocks. Among the winners, blue-chip developer Emaar Properties ( opens new tab increased 1.5% and toll gate operator Salik Company ( opens new tab finished 1.4% up. Stock exchange operator Dubai Financial Market ( opens new tab climbed 4.4% after the firm reported a 42% surge in first-quarter net profit to 127 million dirhams ($34.58 million). Abu Dhabi's benchmark index (.FTFADGI), opens new tab extended gains to fifth session in a row with the index rising 0.2%, lifted by a 2.5% jump in each of IHC-owned conglomerate Alpha Dhabi Holding ( opens new tab and Adnoc Drilling ( opens new tab. Among the gainers, Adnoc Gas ( opens new tab rose 0.6% ahead of its Q1 earnings expected later in the day. Dubai index notched up 2.5% on a weekly basis, while Abu Dhabi gained 2%, its highest weekly gain since Nov. 3, 2023, according to LSEG data. Oil prices - a key catalyst for Gulf's financial markets - declined on Friday with Brent crude sliding 0.69% to $61.7 a barrel by 1136 GMT. ($1 = 3.6729 UAE dirham)
Zawya
07-03-2025
- Business
- Zawya
Mideast Stocks: UAE stocks decline over tariff uncertainty
Stock markets in United Arab Emirates closed lower on Friday, in line with global equities as the uncertainty around U.S. tariff policy creates nervousness among investors. European stocks fell 0.7%, on track for a weekly loss after 10 straight weekly gains, while Japan's Nikkei lost 2.2% to a six-month low. On Thursday, U.S. President Donald Trump suspended the 25% tariffs he had imposed on most goods from Canada and Mexico until April 2, although steel and aluminium tariffs would still go into effect on March 12 as scheduled. Dubai's main market dropped 1%, its biggest intraday loss in three months, as a majority of stocks were trading in negative territory. Dubai's biggest Islamic lender, Dubai Islamic Bank declined 1.6%, while business park operator Tecom Group lost 3%. Talabat Holding, one of the largest food ordering businesses in the Middle East, reported on Thursday that it had completed the acquisition of 100% of instashop's share capital from Delivery Hero SE. Talabat shares closed 0.7% down. Dubai's index recorded 1.8% losses, its biggest weekly loss since early October last year, while Abu Dhabi logged 1.2% decline on a weekly basis, according to LSEG data. Abu Dhabi's benchmark index slipped 0.9%, hitting its 8-week low, with biggest developer Aldar Properties losing 2.6% and IHC-owned investment firm Multiply Group dipping 3.4%. Among the losers, UAE's top lenders First Abu Dhabi Bank and Abu Dhabi Commercial Bank fell 0.8% and 7.4% respectively. Abu Dhabi's index saw a significant decline, continuing its downward movement due to the ongoing trade tensions and the general decline in oil prices experienced during the week, said Rania Gule, Senior Market Analyst at – MENA. NMDC Energy gained 0.7% after company's shareholders approved a full-year dividend of AED 0.14 per share. Oil prices - a key contributor to the Gulf's economies - drifted higher on Friday, with Brent crude rising 1.7% to $70.61 a barrel by 1135 GMT. ABU DHABI down 0.9% to 9,448 points DUBAI fell 1% to 5,223 points ($1 = 3.6725 UAE dirham)
Reuters
07-03-2025
- Business
- Reuters
UAE stocks decline over tariff uncertainty
March 7 (Reuters) - Stock markets in United Arab Emirates closed lower on Friday, in line with global equities as the uncertainty around U.S. tariff policy creates nervousness among investors. European stocks (.STOXX), opens new tab fell 0.7%, on track for a weekly loss after 10 straight weekly gains, while Japan's Nikkei (.N225), opens new tab lost 2.2% to a six-month low. On Thursday, U.S. President Donald Trump suspended the 25% tariffs he had imposed on most goods from Canada and Mexico until April 2, although steel and aluminium tariffs would still go into effect on March 12 as scheduled. Dubai's main market (.DFMGI), opens new tab dropped 1%, its biggest intraday loss in three months, as a majority of stocks were trading in negative territory. Dubai's biggest Islamic lender, Dubai Islamic Bank ( opens new tab declined 1.6%, while business park operator Tecom Group ( opens new tab lost 3%. Talabat Holding ( opens new tab, one of the largest food ordering businesses in the Middle East, reported on Thursday that it had completed the acquisition of 100% of instashop's share capital from Delivery Hero SE. Talabat shares closed 0.7% down. Dubai's index recorded 1.8% losses, its biggest weekly loss since early October last year, while Abu Dhabi logged 1.2% decline on a weekly basis, according to LSEG data. Abu Dhabi's benchmark index (.FTFADGI), opens new tab slipped 0.9%, hitting its 8-week low, with biggest developer Aldar Properties ( opens new tab losing 2.6% and IHC-owned investment firm Multiply Group ( opens new tab dipping 3.4%. Among the losers, UAE's top lenders First Abu Dhabi Bank ( opens new tab and Abu Dhabi Commercial Bank ( opens new tab fell 0.8% and 7.4% respectively. Abu Dhabi's index saw a significant decline, continuing its downward movement due to the ongoing trade tensions and the general decline in oil prices experienced during the week, said Rania Gule, Senior Market Analyst at – MENA. NMDC Energy ( opens new tab gained 0.7% after company's shareholders approved a full-year dividend of AED 0.14 per share. Oil prices - a key contributor to the Gulf's economies - drifted higher on Friday, with Brent crude rising 1.7% to $70.61 a barrel by 1135 GMT. ($1 = 3.6725 UAE dirham)
