UAE Markets End Higher As Dubai And Abu Dhabi Indexes Track Global Gains

UAE stock markets ended higher on Friday as Dubai and Abu Dhabi indexes tracked firmer global equities and investors reassessed the outlook for US interest rates. Reuters reported that Dubai’s main index rose 1.1 percent, supported by industrial and financial stocks, while Abu Dhabi’s benchmark index gained 0.9 percent. The move followed global market gains after softer US labour data reduced expectations of an imminent Federal Reserve rate increase. Dubai-listed Salik advanced 2.4 percent, while Emaar Properties and Emirates NBD each gained 1.5 percent, according to the report. In Abu Dhabi, Aldar Properties rose 1.2 percent and Alpha Dhabi Holding climbed 4.3 percent. The rate backdrop matters for Gulf markets because regional currencies, including the UAE dirham, are linked to the US dollar. When investors expect US rates to stay steady, borrowing-cost pressure can ease and risk appetite often improves. Corporate developments also supported sentiment. Reuters reported that International Holding Company gained after plans were unveiled for an $11.5 billion aluminium project in India through a venture with India’s Adani Group. Emirates Global Aluminium also remained in focus after an update on restoring production at its Al Taweelah complex. The week ended with Dubai’s index up 0.7 percent and Abu Dhabi’s index up 0.2 percent, according to LSEG data cited by Reuters. Why it matters The session shows how UAE markets remain tied to global monetary policy, oil-linked…