UAE Bourses Rebound As Energy And Financial Shares Climb

After three straight sessions of losses, the stock markets in the UAE rebounded, with Dubai’s main index rising about 0.7%.  

The rebound was led by strong performance in financials and consumer staples—Dubai Islamic Bank rose ~2.5% and supermarket operator Spinneys saw a ~6.8% gain.  

In Abu Dhabi, energy and banking stocks also helped reverse downward momentum. ADNOC Gas surged ~4.1%, aided by its parent company’s entry into a U.S. LNG project.  

While the rebound is encouraging, the article notes that both markets still ended the week in the red, with Dubai down ~2.8% and Abu Dhabi ~1.3%, marking Dubai’s worst weekly performance in over three months.

  
Potential support is expected from strong fundamentals and the upcoming ALEC IPO, which analysts believe could help stabilize sentiment.

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