Stock markets in the United Arab Emirates experienced a mixed performance on Friday, marking the first trading session of the New Year amid rising regional tensions, particularly related to the escalating crisis in Yemen and its impact on Saudi-UAE relations.
In Dubai, the main share index rose by 1.1%, buoyed by widespread gains across various sectors, with the financial and real estate sectors particularly contributing to the positive momentum. Notable performers included Emaar Development, which saw an increase of 2.97%, Emirates NBD Bank, which rose by 2.69%, and Watania International Holding PJSC, gaining 2.19%.
Conversely, Abu Dhabi’s index closed flat, hindered by a notable decline in specific companies. The Abu Dhabi National Energy Company experienced a drop of over 4%, while E7 Group also faced a reduction, falling by 1.87%. These declines contributed to the overall subdued performance of the Abu Dhabi market.
The mixed results reflect the broader uncertainties in the region, as investors remain cautious in light of ongoing geopolitical developments.
