Abu Dhabi, Dubai Stocks Close Mixed; UAE's Non-oil Private Sector Continues to Expand

06:41 AM EST, 11/04/2026 (MT Newswires) -- United Arab Emirates' two benchmark indices closed diverged as investors digested the latest figures from the country's non-oil private sector. At the close of Wednesday trading, the FTSE ADX General Index was somewhat muted but 0.016% in the red, while the DFM General Index added 3.956%. The S&P Global UAE PMI, an indicator of the country's non-oil private sector activity, edged down to 54.8 in October from 55.3 in September but still signaled expansion as new orders and output growth continued to rise, offsetting lower employment and weak supply-chain conditions. Meanwhile, purchasing activity, business optimism, and vendor performance improved. "Looking ahead, non-oil firms are becoming more upbeat. Year-ahead expectations rose to their highest since January, underpinned by robust demand forecasts and hopes that improving regional conditions will lift sectors such as tourism. Supply conditions are also supportive, with vendor performance improving to the greatest extent since June as firms increasingly turn to local suppliers. Alongside the sharpest rise in purchasing activity for nine months, this should help businesses keep pace with growing order books heading into the end of the year," S&P Global Market Intelligence principal economist David Owen said. On the geopolitical front, Qatar's Foreign Ministry spokesperson Majed Al-Ansari said both the US and Iran are reviewing proposals presented by mediators. Meanwhile, the US President stated that he is in no hurry to carry out strikes on Iran but did not rule out the possibility of resumption of military action. Over to corporates, Pure Health Holding (ADX:PUREHEALTH) purchased six clinic facilities in Abu Dhabi and Al Ain from Aspen Clinics as part of its broader growth strategy in the UAE. The Abu Dhabi-listed healthcare services company gained 0.83% at closing. Dubai Investments (DFM:DIC) unit DIP Holding set the final price for its initial public offering on the Dubai Financial Market at 1.12 Emirati dirhams per share, following completion of book-building and subscription processes on Tuesday. Dubai Investments shares were 2.76% in the green at the time of close.