Abu Dhabi gains on IHC rally, Dubai falls

Business Recorder reported that Abu Dhabi's benchmark index ended higher on Friday, lifted by healthcare and consumer staples shares. The index climbed 1.1 per cent, marking its strongest intraday move in over 6 weeks, after International Holding Company, the UAE's largest listed firm, jumped 4.8 per cent. Pure Health Holding gained 4.7 per cent while hypermarket operator Lulu Retail Holding rose 2.6 per cent.

Dubai's main index moved in the opposite direction, slipping 0.5 per cent and ending a two-session winning run. Heavyweights Emirates NBD Bank and Emaar Properties weighed on it, with the lender falling 2.4 per cent and the developer 1.5 per cent. Talabat Holding, a food delivery platform, advanced 2.6 per cent after recommending a first-half dividend of 2.660 fils per share.

Crude prices also fell on Friday, with Brent down 1.6 per cent at $103.18 a barrel by 1149 GMT, as concerns about potential supply disruptions in Saudi Arabia eased. Business Recorder described oil as a major influence on Gulf markets, placing the crude decline in that context.