Emirati Stocks Close in Green as Investors Shrug Off Rising Middle East Risks

07:47 AM EDT, 10/16/2026 (MT Newswires) -- Markets in the United Arab Emirates ended higher on the last day of the trading week, which was dominated by a mix of geopolitical jitters and key US economic indicators. At the close of Friday trading, the FTSE ADX General Index was 0.039% in the green, while the DFM General Index added 0.632%. Oil prices edged up and continued to trade above the $100 per barrel mark amid no signs of a breakthrough between the US and Iran, and widening tensions between Yemen's Houthis and Saudi Arabia after new missile strikes on the presidential palace in Aden resulted in five deaths and several injuries. Brent crude oil futures stood at nearly $106.30 per barrel as of 3:24 pm UAE time, up 0.36% from the previous day. "Uncertainty in the Middle East and concerns over the sustainability of oil flows through the Strait of Hormuz has the market pricing in a significant risk premium. The longer this pickup in flows continues, the more likely the market will start giving back some of this risk premium," ING said. "In order to see a full removal, there needs to be some kind of agreement between the US and Iran. This would provide the market with more confidence that stronger oil flows from the region will continue." Zooming in at home, Dubai Chambers inked four memorandums of understanding with China's Beijing, Shenzhen, Guangzhou, and Chongqing chambers to support private sector expansion and bolster trade and economic ties between Emirati and Chinese companies. On the corporate side, GFH Bank (DFM:GFH, ADX:GFH) closed a Sharia-compliant Power Systems Opportunities Fund of $63 million to target investments in critical electricity grid infrastructure across North America and Europe. It shares lost 0.57% on the Dubai Financial Market and ended flat on the Abu Dhabi bourse. Meanwhile, Abu Dhabi Islamic Bank (ADX:ADIB) launched its new Al Mutarid branch in Al Ain, providing customers with access to self-service digital technology and personalized support. The Abu Dhabi-listed lender closed the session 0.70% higher.