Emirati Stocks Tumble as Middle East Tensions Escalate

06:56 AM EST, 12/30/2025 (MT Newswires) -- Emirati shares ended Tuesday's trading session downbeat as rising tensions between two Middle Eastern heavyweights dampened investor sentiment. At closing, the FTSE ADX General Index was 0.965% in the red, while the DFM General Index lost 1.994%. Saudi Arabia on Tuesday launched airstrikes on Yemen's Mukalla port, targeting a shipment of weapons that was meant to support the Southern Transitional Council, an organization backed by the United Arab Emirates. The world's largest oil exporter also asked the UAE to withdraw its forces from Yemen within 24 hours. "The steps taken by the UAE are considered highly dangerous, inconsistent with the principles upon which the Coalition to Restore Legitimacy in Yemen was established, and do not serve the coalition's purpose of achieving security and stability for Yemen," the Saudi Foreign Ministry said. "In this context, the Kingdom stresses that any threat to its national security is a red line, and the Kingdom will not hesitate to take all necessary steps and measures to confront and neutralise any such threat. In other news, Dubai Municipality and Hatta Traders Council signed a memorandum of understanding to develop a national database for Emirati honey to enhance its quality and competitiveness in local and international markets. On the corporate front, Abu Dhabi National Energy Co. (ADX:TAQA), d/b/a Taqa, reached the financial close of the 3.6 billion-Emirati-dirham, 1-gigawatt Al Dhafra power plant in Abu Dhabi with Emirates Water and Electricity Co. Shares of the energy group closed the session 1.13% lower. Meanwhile in Dubai, shares of Emirates Integrated Telecommunications (DFM:DU), d/b/a du, shed 2.65%. The telecommunications group partnered with Chinese technology giant Huawei to roll out a multi-band indoor base station network in the UAE.