Stock markets in the United Arab Emirates closed higher on Friday, with Dubai outperforming Abu Dhabi despite fading hopes for a diplomatic breakthrough in the conflict involving Israel, Iran and Tehran-backed groups in the region, according to Reuters.
Investor sentiment remained cautious after Lebanon's Hezbollah rejected a new ceasefire proposal on Thursday, while Israel said it would not withdraw its troops from Lebanon, complicating U.S. President Donald Trump's efforts to halt the fighting and advance a broader agreement with Iran, Reuters reported.
Dubai's main share index gained 0.9 percent, supported by advances in industrial and utilities stocks. Toll operator Salik rose 1.6 percent, while Emirates Central Cooling Systems Corporation (Empower) climbed 2.5 percent.
Abu Dhabi's benchmark index ended 0.3 percent higher, with Abu Dhabi National Energy Company (TAQA), the emirate's largest utility firm, surging 6.2 percent.
Alef Education added 1 percent after announcing the completion of the full migration of its digital learning ecosystem to Microsoft Azure using Core42's sovereign cloud capabilities.
Brent crude futures fell 0.32 percent to $94.73 a barrel by 1232 GMT, as investors weighed geopolitical developments and their implications for energy markets, Reuters reported.
