Abu Dhabi, Feb 28, 2026, 12:19 GST — Market closed
- Abu Dhabi’s benchmark index slipped 1.33% to close Friday at 10,453.9 points.
- Late in the week, banks and consumer stocks slipped, while traders watched oil prices.
- Looking ahead, OPEC+ convenes on March 1; fresh U.S.-Iran negotiations are also lined up in Vienna next week.
The FTSE ADX General Index in Abu Dhabi slipped 1.33% Friday, ending at 10,453.9, with the week’s decline coming in around 1.2%, according to market figures. The gauge remains just off February’s peak and has gained close to 9% year-over-year. 1
Stocks in the Gulf lost ground late in the week, mirroring a broader flight from risk after U.S.-Iran negotiations in Geneva wrapped up with no progress, fueling fresh fears of escalation. Abu Dhabi’s index shed 1.3% on Friday, dragged by First Abu Dhabi Bank off 2.4% and Americana Restaurants tumbling 5.6%. Dubai’s main benchmark retreated 1.8%. Brent crude, meanwhile, advanced close to 2% to $72.14 a barrel. 2
Oil isn’t just propping up earnings in energy-tied stocks across the Gulf—it’s also acting as a litmus test for regional risk sentiment. ADNOC plans to ramp up Murban crude exports in April, according to sources speaking to Reuters, and OPEC+—that’s OPEC plus partners like Russia—has a meeting booked for Sunday. “The boost in exports will definitely create a short-term buffer” against disruption risk, TP ICAP analyst Scott Shelton said. 3
This week kicked off with a cautious tone in Abu Dhabi; the index ended Thursday down 0.4% after back-to-back flat days. Alpha Dhabi Holding and Aldar Properties each shed 0.4% during the session. The UAE central bank, meanwhile, announced a sovereign financial cloud project in partnership with Core42, a G42 unit. “The non-oil sector could support a bounce if geopolitical risks fade, but volatility in oil prices still looms,” said George Pavel, general manager at Naga.com Middle East. 4
The index sat near its recent highs, so it didn’t take much to tip sentiment on Friday. That choppy climb, then dip, had already left the market open to a quick turn.
Banks, real estate, and big state-affiliated groups dominate ADX’s weighting. Once geopolitical headlines break, it’s these highly liquid stocks that react first—easy targets for both foreign and local funds looking to pare back exposure fast.
Crude’s got its own piece in play. Oil prices are carrying a “risk premium” again — traders tacking on extra cost over supply concerns — and now equity investors are left weighing whether that points to healthier cashflows or just a bumpier ride ahead.
There’s a local layer to this story, too. UAE assets remain sensitive to funding conditions and how much the public sector borrows. Investors are keeping an eye on any new bond issuance or policy moves that could shake up liquidity in the near term.
It’s a clear risk: should U.S.-Iran negotiations unravel further or if shipping threats ramp up, stocks could drop again—even with oil prices steady. Another pitfall? An unexpected OPEC+ supply move could knock crude lower and weigh on energy sentiment.
Monday brings the next ADX session, and traders will face a fresh test from weekend headlines. Abu Dhabi’s exchange opens its doors for trading every weekday, sticking to a Monday through Friday schedule. Daytime sessions run on local time. 5
Sunday brings the OPEC+ meeting (March 1), while Vienna is set to host technical-level U.S.-Iran talks next week—any hint on timing or tone could quickly shift sentiment. These two events are poised to shape early-week trading and help determine if last week’s selloff loses steam or picks up speed.
