Latest news with #EmaarProperties
Zawya
3 hours ago
- Business
- Zawya
Mideast Stocks: UAE stocks bounce back amid hopes of regional de-escalation
Stock exchanges in the United Arab Emirates rebounded on Friday, buoyed by hopes of a potential de-escalation in regional tensions. Investor sentiment improved following European efforts to bring Tehran back to the negotiating table and a pause in U.S. involvement in the Middle East conflict. The White House said on Thursday that President Donald Trump would decide on "whether or not to go" with U.S. involvement in the conflict in the next two weeks, citing the possibility of negotiations involving Iran in the near future. Dubai's main index snapped a three-day losing streak, rising 1.6%, driven by gains in real estate and materials sector stocks. Among the top performers, Dubai's developer Emaar Properties jumped 1.2%, while state-owned Parkin Company advanced 4.8%. Separately, UAE created a new ministry of foreign trade, and appointed Thani al Zeyoudi as its minister, the United Arab Emirates prime minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said in a post on X on Friday. Abu Dhabi's benchmark index (.FTFADGI) also rebounded, gaining 1% after three consecutive sessions of losses. First Abu Dhabi Bank rose 2.7%, while Adnoc Gas advanced 2.5%. Real estate developer Aldar Properties gained 4.5% after reporting over AED 3.5 billion in sales at its Fahid Beach Residences and The Beach House projects. Despite Friday's gains, Dubai's index posted a second consecutive weekly loss, down 0.2% after nine straight weeks of gains. Abu Dhabi mirrored the trend with a 0.5% weekly decline, according to LSEG data. Meanwhile, oil prices — a key driver of Gulf financial markets — fell 2.3% to $77.04 per barrel as of 11:40 GMT. (Reporting by Mohd Edrees in Bengaluru; Editing by Shailesh Kuber)
Reuters
3 hours ago
- Business
- Reuters
UAE stocks bounce back amid hopes of regional de-escalation
June 20 (Reuters) - Stock exchanges in the United Arab Emirates rebounded on Friday, buoyed by hopes of a potential de-escalation in regional tensions. Investor sentiment improved following European efforts to bring Tehran back to the negotiating table and a pause in U.S. involvement in the Middle East conflict. The White House said on Thursday that President Donald Trump would decide on "whether or not to go" with U.S. involvement in the conflict in the next two weeks, citing the possibility of negotiations involving Iran in the near future. Dubai's main index (.DFMGI), opens new tab snapped a three-day losing streak, rising 1.6%, driven by gains in real estate and materials sector stocks. Among the top performers, Dubai's developer Emaar Properties ( opens new tab jumped 1.2%, while state-owned Parkin Company ( opens new tab advanced 4.8%. Separately, UAE created a new ministry of foreign trade, and appointed Thani al Zeyoudi as its minister, the United Arab Emirates prime minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said in a post on X on Friday. Abu Dhabi's benchmark index (.FTFADGI) also rebounded, gaining 1% after three consecutive sessions of losses. First Abu Dhabi Bank ( opens new tab rose 2.7%, while Adnoc Gas ( opens new tab advanced 2.5%. Real estate developer Aldar Properties ( opens new tab gained 4.5% after reporting over AED 3.5 billion in sales at its Fahid Beach Residences and The Beach House projects. Despite Friday's gains, Dubai's index posted a second consecutive weekly loss, down 0.2% after nine straight weeks of gains. Abu Dhabi mirrored the trend with a 0.5% weekly decline, according to LSEG data. Meanwhile, oil prices — a key driver of Gulf financial markets — fell 2.3% to $77.04 per barrel as of 11:40 GMT.
Zawya
a day ago
- Business
- Zawya
Mideast Stocks: Most Gulf markets retreat as Israel, Iran strikes continue
Most stock markets in the Gulf closed lower on Thursday on the seventh day of the Israel-Iran conflict and as U.S. President Donald Trump kept the world guessing about whether the U.S. would join Israel in airstrikes. Dubai's main share index lost 0.7%, hit by a 2.3% slide in sharia-compliant lender Dubai Islamic Bank and a 1.2% decrease in blue-chip developer Emaar Properties . In Saudi Arabia, the benchmark index reversed early losses to edge 0.2% higher, helped by a 4.9% jump in Umm Al Qura Development and Construction. However, the index posted a weekly loss of 2.1% . In Abu Dhabi, the index concluded 0.8% down. Overnight, the U.S. Federal Reserve held rates steady as expected but retained projections for two quarter-point rate cuts this year. The Fed's decisions impact monetary policy in the Gulf, where most currencies, including the riyals, are pegged to the U.S. dollar. The Qatari index fell 0.8%, with Qatar Islamic Bank losing 1.3%. Brent crude futures rose $1.06, or 1.4%, to $77.76 a barrel by 1151 GMT. Outside the Gulf, Egypt's blue-chip index dropped 1.9%, as most of its constituents were in negative territory including Talaat Moustafa Group Holding, which was down 5.8%. SAUDI ARABIA rose 0.2% to 10,611 ABU DHABI lost 0.8% to 9,423 DUBAI down 0.7% to 5,270 QATAR dropped 0.8% to 10,261 EGYPT slid 1.9% to 30,248 BAHRAIN declined 0.8% to 1,875 OMAN eased 0.3% to 4,506 KUWAIT gained 0.9% to 8,616 (Reporting by Ateeq Shariff in Bengaluru; Editing by Alison Williams)
Business Recorder
a day ago
- Business
- Business Recorder
Most Gulf markets retreat as Israel, Iran strikes continue
Most stock markets in the Gulf closed lower on Thursday on the seventh day of the Israel-Iran conflict and as U.S. President Donald Trump kept the world guessing about whether the U.S. would join Israel in airstrikes. Dubai's main share index lost 0.7%, hit by a 2.3% slide in sharia-compliant lender Dubai Islamic Bank and a 1.2% decrease in blue-chip developer Emaar Properties. In Saudi Arabia, the benchmark index reversed early losses to edge 0.2% higher, helped by a 4.9% jump in Umm Al Qura Development and Construction. However, the index posted a weekly loss of 2.1%. In Abu Dhabi, the index concluded 0.8% down. Overnight, the U.S. Federal Reserve held rates steady as expected but retained projections for two quarter-point rate cuts this year. The Fed's decisions impact monetary policy in the Gulf, where most currencies, including the riyals, are pegged to the U.S. dollar. Most Gulf markets in red as Israel-Iran conflict escalates The Qatari index fell 0.8%, with Qatar Islamic Bank losing 1.3%. Brent crude futures rose $1.06, or 1.4%, to $77.76 a barrel by 1151 GMT. Outside the Gulf, Egypt's blue-chip index dropped 1.9%, as most of its constituents were in negative territory including Talaat Moustafa Group Holding, which was down 5.8%. ---------------------------------------- SAUDI ARABIA rose 0.2% to 10,611 ABU DHABI lost 0.8% to 9,423 DUBAI down 0.7% to 5,270 QATAR dropped 0.8% to 10,261 EGYPT slid 1.9% to 30,248 BAHRAIN declined 0.8% to 1,875 OMAN eased 0.3% to 4,506 KUWAIT gained 0.9% to 8,616 ----------------------------------------
Reuters
a day ago
- Business
- Reuters
Major Gulf markets decline as regional conflict escalates
June 19 - Major stock markets in the Gulf fell in early trade on Thursday amid investor jitters over potential U.S. involvement in the escalating Israel-Iran conflict. Israel struck a key Iranian nuclear site on Thursday and Iranian missiles hit an Israeli hospital while President Donald Trump kept the world guessing about whether the U.S. would join air strikes seeking to destroy Tehran's nuclear facilities. Saudi Arabia's benchmark index (.TASI), opens new tab dropped 0.2%, dragged down by a 0.4% fall in Al Rajhi Bank ( opens new tab and a 0.6% decrease in oil behemoth Saudi Aramco ( opens new tab. The Saudi index is on course for its biggest weekly fall in over two months. However, Prince Alwaleed Bin Talal-backed airline Flynas ( opens new tab advanced 3% to 79.60 riyals per share, a day after falling over 3% on its debut. The airline, which sold a 30% stake to investors in the first IPO by a Gulf airline in almost 20 years, was priced at the top of its range at 80 riyals per share. Dubai's main share index (.DFMGI), opens new tab declined 1.3%, dragged down by a 2.4% slide in blue-chip developer Emaar Properties ( opens new tab and a 2% retreat in sharia-compliant lender Dubai Islamic Bank ( opens new tab. Elsewhere, budget airliner Air Arabia ( opens new tab was down 1.6%. In Abu Dhabi, the index (.FTFADGI), opens new tab eased 0.1%. Overnight, the held rates steady as expected but retained projections for two quarter-point rate cuts this year. The Fed's decisions impact monetary policy in the Gulf, where most currencies, including the riyals, are pegged to the U.S. dollar. The Qatari benchmark (.QSI), opens new tab fell 0.8%, with Qatar Islamic Bank ( opens new tab losing 1.6%.
