Stock markets across the United Arab Emirates ended Friday's session higher, with Dubai setting the pace over its Abu Dhabi counterpart, as investors looked past dimming prospects for a peace settlement in the conflict involving the United States, Israel and Iran.
The cautious optimism came even as diplomacy hit fresh obstacles. The Iran-aligned movement Hezbollah turned down a fresh ceasefire arrangement in Lebanon on Thursday, while Israel signalled it would keep its forces in place rather than pull them out. Together, the developments complicated U.S. President Donald Trump's push to wind down the fighting and secure a broader agreement with Tehran.
Dubai Powered by Industrials and Utilities
Dubai's benchmark index advanced 0.9%, lifted largely by strength in industrial and utility names. Toll-road operator Salik Company climbed 1.6%, while district-cooling provider Emirates Central Cooling Systems rose 2.5%.
Abu Dhabi Edges Up on Energy Gains
Abu Dhabi's main index posted a more modest 0.3% increase. The standout was Abu Dhabi National Energy, the emirate's biggest utility, which surged 6.2%. Education technology firm Alef Education added 1% after announcing it had finished shifting its entire digital learning platform onto Microsoft Azure, drawing on the sovereign cloud infrastructure of local AI group Core42.
Oil Slips Slightly
Crude prices offered little support to the regional mood. Brent was trading down 0.32% at $94.73 a barrel as of 1232 GMT, reflecting the market's wait-and-see stance amid the unresolved regional tensions.
