Oil prices, a major catalyst for financial markets in the Gulf region, rose on Friday as ongoing tensions in the Red Sea exacerbated concerns about energy supplies.
Stock movements
The main index in the Dubai Financial Market rose by 0.4 percent, supported by a 1.9 percent rise in SALIC shares, while Emirates NBD Bank, the largest bank in Dubai, rose 1.2 percent.
Among the stocks that achieved gains was Union Real Estate Company, which increased 1.8 percent after the company's board of directors approved a deal with a national bank to settle the debts of the company and its subsidiaries.
The Dubai index recorded weekly gains of 0.6 percent, according to London Stock Exchange data.
Abu Dhabi's main index fell slightly, by 0.04 percent.
Emirates Stallions Group shares rose 14.9 percent, its highest daily gain since late July, after the company acquired a majority stake in United International Group.
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