Abu Dhabi, Feb 21, 2026, 11:54 GST — Market closed.
- Abu Dhabi’s benchmark index fell 0.3% on Friday, with Aldar down 2.6% and Agility Global off 1.4%.
- Aldar said it placed $1 billion of subordinated hybrid notes with Apollo, while Invictus rose after posting higher annual profit.
- Investors head into Monday watching oil prices and fresh U.S.-Iran headlines.
Abu Dhabi’s stock market heads into the new week on the back foot after geopolitical jitters knocked the Abu Dhabi Securities Exchange benchmark lower at Friday’s close. The index slipped 0.3%, with real estate heavyweight Aldar Properties down 2.6%, even as Invictus gained 1.6% on results. (Reuters)
The timing is awkward. Gulf equities had been leaning on earnings season and steady local flows, but the latest pullback put geopolitics back in the driving seat, and oil faded again.
“Rising geopolitical tensions triggered risk aversion,” said Milad Azar, a market analyst at XTB MENA, adding that geopolitical headwinds were stalling momentum in the region’s bourses. (Reuters)
Aldar tried to change the subject. It said it issued $1 billion in subordinated hybrid notes to Apollo Global Management through a private placement, with net proceeds injected as equity into Aldar Investment Properties and including repayment of $500 million of perpetual hybrid notes issued in 2022. Hybrid notes are debt that sits below other borrowing and carries some equity-like features, which can soften leverage metrics.
Apollo, in its own statement, called the investment its fifth with Aldar since 2022 and said proceeds would support Aldar’s balance sheet flexibility and growth agenda, including landbank replenishment and acquisitions. “Completing our fifth investment with Aldar speaks directly to Apollo’s ability to structure flexible capital solutions,” Apollo partner Jamshid Ehsani said. (Apollo Global Management, Inc.)
Away from property, Invictus Investment published audited 2025 results, reporting net profit of 227.6 million dirhams and revenue of 13.3 billion dirhams, and said its board recommended a cash dividend of 40 million dirhams. Chief executive Amir Daoud Abdellatif said 2025 “was a defining year” as the company pushed acquisitions and new markets. (MarketScreener)
Still, the tape is jumpy. A sharper oil drop or a rougher turn in regional security headlines would likely keep pressure on rate-sensitive and cyclical names, including banks and developers, after the week’s swings.
ADX trading resumes on Monday, with the market’s first read likely coming from oil and any weekend spillover into global risk assets. (Adx)
The bigger calendar risk sits just ahead: Iran said it was preparing a counterproposal in the nuclear talks, while U.S. President Donald Trump has warned he is considering limited strikes unless a deal is reached within 10–15 days — a window that runs into early March. (Reuters)
