Emirati Stocks Begin New Week Mixed as Uncertainty Looms Over US-Iran Deal

07:45 AM EDT, 09/28/2026 (MT Newswires) -- Markets in the United Arab Emirates ended the first trading day of the week in opposite directions as uncertainty surrounding the tensions between the US and Iran pushed investors to adopt a cautious stance. At the close of Monday trading, the FTSE ADX General Index lost 0.404%, while the DFM General Index was 0.302% in the green. "The weekend tempered hopes of easing tensions in the Middle East. On Saturday, the US president Donald Trump rejected the Iranian ceasefire offer. The Iranian proposal would have opened the Strait of Hormuz in seven days in return for the US lifting its port blockade and 'doing certain things'. We think it is possible that a temporary deal to open the strait can be reached ahead of the US mid-terms, but a permanent agreement is another thing. Especially, as the WSJ reported on Friday that Trump has told aides he expects to resume bombing Iran after the November mid-terms. A deadlocked limbo remains our main scenario," Danske Bank said. Meanwhile, Iranian Foreign Minister Seyed Abbas Araghchi stated that Iran remains ready for "real diplomacy" but is also prepared to confront any aggression. Back home, the Abu Dhabi Chamber of Commerce and Industry and Siemens signed a deal to cooperate in advanced technologies, sustainability, and capacity building, as well as translating and exchanging knowledge and expertise to advance digital transformation across the industrial sector. On the corporate side, Emirates Stallions Group's (ADX:ESG) subsidiary Royal Development Holding and SAAS Properties tapped Fibrex as the main contractor for the Seamont Autograph Collection Residences in Al Reem Island in Abu Dhabi. Emirates Stallions Group closed the session flat. Elsewhere, Dubai Electricity and Water Authority (DFM:DEWA), d/b/a Dewa, will submit a circular to its board on Oct. 6 to seek approval to distribute 3.1 billion Emirati dirhams in cash dividends for the first half of 2026. Dewa shares added 0.37% at closing.