UAE shares fall as geopolitical uncertainty keeps traders cautious

UAE equities fell on Friday as regional geopolitical uncertainty kept investors cautious, Business Recorder reported. Abu Dhabi’s benchmark lost 1.3% and touched an 18-month low, while Dubai’s index slipped 0.3%, ending a four-session advance. Aldar Properties declined 1.7%, and International Holding dropped 2.8% after reporting third-quarter net profit of 6.22 billion dirhams, down more than 28% from a year earlier.

In Dubai, Emirates NBD lost 1.3% and Salik Company fell 1.1%, while Emaar Development rose 1.2% after its parent, Emaar Properties, outlined a voluntary cash offer for up to all remaining shares. The proposed price is 15 dirhams per share, with the potential transaction valued at up to $3.43 billion. For the week, Abu Dhabi’s index fell 0.8%, while Dubai gained 4.4%, its strongest weekly rise in more than six months; Brent crude was up 0.5% at $98.73 a barrel.