UAE stocks end mixed as geopolitical tensions ease, Dubai gains 0.3%

Profit by Pakistan Today reported that UAE stock markets ended mixed on Friday. Dubai's benchmark index rose 0.3 per cent, ending three sessions of losses, while Abu Dhabi's index edged slightly lower. Investors weighed developments in talks between the US and Iran and the wider Middle East conflict.

Sentiment got a lift when Donald Trump said Washington would not attack Iran before the midterm congressional elections in the US next month. On Thursday, Trump called the talks with Tehran productive, with the aim of ending the conflict and restoring traffic through Hormuz, though he turned down Iran's latest proposal. Among stocks, Emirates NBD rose 2.1 per cent, Emaar Properties gained 1.1 per cent and First Abu Dhabi Bank slipped 0.6 per cent.

Even so, both exchanges finished the week lower, as Abu Dhabi's index fell for a third week in a row and Dubai's for a second, according to LSEG data. Attention stays on diplomacy between Washington and Tehran and on any restoration of shipping through Hormuz, while corporate earnings for the third quarter also shape sentiment.