Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
In Abu Dhabi, the benchmark stock index fell 0.3%
Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the U.S. Federal Reserve.
Markets will get a chance to assess minutes of the Feds' last meeting later in the day for further clues on when the U.S. central bank will start its easing cycle.
Most Gulf currencies are pegged to the dollar, and any monetary policy change in the United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.
The United Arab Emirates' withdrawal from OPEC weakens the group's control over global oil markets and potentially risks widening a rift with Gulf neighbour Saudi Arabia, the de facto leader of the crude producers' organisation.
The emirate's foreign trade figures signal a deepening integration into global markets and accelerating economic diversification away from hydrocarbons.
Aldar Properties, Abu Dhabi's largest real estate developer and asset manager, has reported robust first-quarter 2026 results, with net profit after tax climbing 20% year-on-year to AED 2.3 billion ($626 million), on revenues of AED 8.7 billion ($2.4 billion).
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