UAE Stocks Snap Winning Streak as Trump Says No Iran Deal Needed

06:47 AM EST, 11/13/2026 (MT Newswires) -- United Arab Emirates' two benchmark indices closed lower at the end of the trading week, snapping a four-day winning streak, as the latest remarks from US President Donald Trump injected fresh uncertainty into ongoing mediation efforts with Iran. At the close of Friday trading, the FTSE ADX General Index lost 0.6%, while the DFM General Index dropped 0.593%. US President Donald Trump said in a Truth Social post that he directed Vice President JD Vance to focus on corruption and crime in Democratic cities and states rather than the Iran war. "We don't need a deal with Iran. Those days have long since passed. We've got their money, Hundreds of Billions of Dollars, and we've got their Strait!," Trump wrote. Also dampening sentiment were Iran's Revolutionary Guards' claims of striking a US early-warning radar in Bahrain as a response to an air attack on an Iranian telecommunications tower, Reuters reported. Back home, Dubai Chambers and the University of Toronto signed a cooperation deal to launch a specialized Agentic AI for Family Business Leaders program to support the development and growth of family businesses in Dubai through agentic artificial intelligence. On the corporate front, investors digested a barrage of earnings reports. Talabat Holding (DFM:TALABAT) and Salik (DFM:SALIK) recorded 15% and 8.5% year-over-year declines in third-quarter profits. Talabat gained 0.42%, while Salik shed 2.52% at closing. Sharjah Cement and Industrial Development Co.'s (ADX:SCIDC) third-quarter attributable profit more than doubled to 48 million Emirati dirhams, driven by higher revenue amid increased volumes and prices. The Emirati cement manufacturer closed the session 4.26% higher.