Renewed tensions in the Middle East sparked a sharp downturn in UAE stock markets at the start of this week's trading sessions on Monday.
Reports of explosions surfaced in Tehran, Tabriz, and Isfahan on Monday morning, casting a shadow over prospects for an imminent resolution to the ongoing conflict.
Related ↗IDR survey reveals UK pay settlements remain steady at 3.5% for a second consecutive month.Following missile attacks by Iran against Israeli targets on Sunday, US President Donald Trump expressed optimism that a peace agreement was still attainable. Meanwhile, he is said to have advised Israeli Prime Minister Benjamin Netanyahu to refrain from launching additional military operations.
The Dubai Financial Market's main share index plummeted by 1.3%, weighed down significantly by the sharp 1.2% drop in Emaar Properties, a prominent blue-chip developer and Salik's 1.6% decline as a toll operator.
Read next ↗Swiss businesses warn of economic consequences from capping population at exactly 10 million.The prospect of an agreement between Iran and the US hinges on a cessation of hostilities in Lebanon, which witnessed an Israeli incursion in March against Iranian-allied Hezbollah forces following a series of cross-border strikes.
Sunday's events were marred by another Israeli strike in the Beirut area, which marked their first such assault since the US proposed a truce for Lebanon last week.
Abu Dhabi stock market indices took a hit today, with the.FTFADGI plummeting by 0.9%, as conglomerate International Holding IHC.AD dropped 0.6% and First Abu Dhabi Bank FAB.AD led the decline with a 1.3% fall.
Today, the Qatari index, denoted by.QSI, saw a decline of 0.9% at market opening. Meanwhile, Qatar National Bank, the Gulf's largest lender, experienced a drop of 1.1%.
The Saudi Arabian stock market benchmark index dipped by a modest 0.1%, while Al Rajhi Bank saw its value drop by 0.5%.
Meanwhile, Saudi Aramco's stock (2222.SE) saw a modest increase of 0.7%, buoyed by the recent surge in oil prices. Brent crude futures had jumped $4.42 or 4.47% to reach $97.15 per barrel as trading commenced at 0609 GMT.
Abu Dhabi stock market indices took a hit today, with the.FTFADGI plummeting by(IHC.AD)as conglomerate International Holding IHC.AD dropped 0.6% and First Abu Dhabi Bank FAB.AD led the(FAB.AD)with a 1.3%fall.
Today, the Qatari(.QSI)denoted by.QSI, saw a decline of 0.9% at market opening. Meanwhile, Qatar National Bank, the Gulf's largest lender, experienced a drop of 1.1%.
The Saudi Arabian(.TASI)market benchmark index dipped by a modest 0.1%, while Al Rajhi Bank saw(1120.SE)value drop by 0.5%.
Meanwhile, Saudi Aramco's stock(2222.SE)saw a modest increase of 0.7%, buoyed by the recent surge in oil prices. Brent crude futures had jumped $4.42 or 4.47% to reach $97.15 per barrel as trading commenced at 0609 GMT.
