UAE stock markets gain amid optimism over progress on Gaza ceasefire negotiations

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Stock markets in the United Arab Emirates closed higher on Friday as positive developments emerged regarding efforts towards establishing a ceasefire in Gaza. Regional bourses gained amid hopes that a resolution to the conflict could help stabilize economies and boost business confidence across the Middle East. 


In Abu Dhabi, the benchmark ADX General Index rose over half a percent, led by strong performances from major banks like Abu Dhabi Commercial Bank and operators in strategic sectors such as Abu Dhabi Ports. Oil prices also headed higher on Friday, providing additional support to Gulf stock markets as energy exports are a crucial part of their revenues.


The Dubai Financial Market also ended the week on a positive note, with its general index clocking mild gains. Top contributors included Dubai Islamic Bank, the largest Sharia-compliant lender in the emirate, and Emirates Central Cooling Systems, a key provider of district cooling services. However, newly-listed parking operator Parkin Company saw its shares decline after surging on its debut trading session. 


With Washington putting diplomatic pressure on Israel through efforts at the UN Security Council, hopes are rising for an end to the deadly clashes between Israelis and Palestinians. If achieved, a ceasefire could facilitate reconstruction in Gaza and the resumption of normal economic activity. Financial markets across the Middle East appear to be responding positively to this potential de-escalation of regional tensions.

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