UAE stocks fall as US-Iran deadlock weighs

Business Recorder reported that UAE stock markets closed lower on Friday, as stalled US-Iran negotiations dulled risk appetite and unsettled energy markets. The Dubai index extended its losing run to four sessions, ending 0.5% weaker at 5,901, with almost every stock in negative territory. Emirates NBD, the emirate's largest lender, slipped 1.9%, while road-toll operator Salik dropped 2.7%.

Abu Dhabi's index slipped 0.3% to 9,973, its seventh consecutive decline, with basic materials and consumer discretionary names leading the drop. Alpha Dhabi Holding, a conglomerate, lost 1.1% and Abu Dhabi Commercial Bank shed 1.3%. Across the week, the Abu Dhabi gauge gave up 2.2% and the Dubai index fell 1.3%, according to LSEG data.

Sky Links Capital Group chief executive Daniel Takieddine said markets remain under strain from geopolitical uncertainty and stalled talks. He cautioned that reported American military reinforcements could sour investor mood and reduce hopes for a truce, with shipping through the Strait of Hormuz still disrupted. The Wall Street Journal said the US is positioning a third carrier and as many as 10,000 extra personnel in the Middle East, while President Donald Trump has weighed renewed strikes on Iran after November's midterm elections. Masoud Pezeshkian, Iran's president, said on Thursday that Tehran was willing to talk with Washington while it weighed the American reply to its latest plan to restore the Gulf truce, which has since broken down.