Equity markets in the United Arab Emirates stumbled again on Friday, extending a week of losses as investors reacted cautiously to the intensifying conflict unfolding across the Middle East.
Trading resumed earlier in the week after exchanges paused operations for two days following a wave of missile and drone strikes launched by Iran over the weekend. The situation has since evolved into a broader regional confrontation, fueling uncertainty across financial markets.
On Friday, marking the sixth day of the conflict, new strikes were reported targeting Israel, the United Arab Emirates and Qatar, further rattling investor confidence.
In Dubai, the benchmark index dropped around 2 percent, weighed down by declines in heavyweight stocks. Property giant Emaar Properties slid 4.8 percent, while low-cost carrier Air Arabia fell 4.9 percent. Over the course of the week’s three trading sessions so far, the Dubai gauge has shed more than 7 percent.
Meanwhile, the main index in Abu Dhabi also moved lower, slipping roughly 0.8 percent. Real estate developer Aldar Properties declined 4.9 percent and Abu Dhabi Islamic Bank dropped 5 percent, adding to the downward pressure.
With markets reacting sharply to the geopolitical backdrop, the Abu Dhabi benchmark now appears on track to end the week down by more than 4 percent, reflecting growing caution among regional investors as the crisis continues to unfold. 📉🌍
