Asia Markets
Emirati Stocks Close Higher Ahead of US-Iran Talks in Pakistan
Markets in the United Arab Emirates closed the last day of the trading week on a positive note, with investor sentiment buoyed by upcoming negotiations between the US and Iran in Pakistan over the weekend.At the close of trading, the FTSE ADX General Index was little changed at 0.021% in the green, while the DFM General Index added 0.382%."Peace talks between the US and Iran, mediated by the Pakistani prime minister, are scheduled to begin on Saturday, but tensions remain high due to disagreements over the agenda," Danske Bank said in a note. "Iran insists on its ten-point plan, which White House Press Secretary Karoline Leavitt claims President Trump 'literally threw in the garbage.' Further complicating the situation are disputes over whether the ceasefire terms should extend to Lebanon, after Israel's deadly attacks there on Wednesday."Still, oil prices climbed amid concerns over the fragile ceasefire deal, with Brent crude futures up 0.05% to $97.916 per barrel at 3:40 pm UAE time on Friday.Back at home, the UAE's Ministry of Defence confirmed in a Thursday statement that the country's airspace remained free of any air threats, with no ballistic and cruise missile attacks from Iran.Amid a quiet day on the corporate side, Emirates Insurance Co. (ADX:EIC) shares ended the session 2.63% lower after the insurer resumed trading on Friday. The resumption follows submission of the insurance company's annual general meeting results to the Abu Dhabi bourse, which included shareholder approval for a cash dividend of 0.6 Emirati dirham per share for 2025.Stocks of Dubai Islamic Insurance & Reinsurance (DFM:AMAN), d/b/a Aman, closed the session 0.58% in the red. The insurance company published an invitation for its annual general meeting on April 30, 2026, where it will seek approval for the nondistribution of dividends for 2025.
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