Stock markets in the United Arab Emirates slipped on ‍Friday, but ‍ended the week higher with a rebound in oil ​prices providing some support even as trades thinned heading into the ⁠new year.

Oil prices — a key catalyst for Gulf equities — were ⁠little changed on the ‌day. Investors weighed potential supply risks tied to rising geopolitical tensions after the United States carried out ⁠airstrikes against Islamic State militants in Nigeria and stepped up economic pressure on Venezuelan oil.

In Abu Dhabi, the index ended flat on the day as losses in consumer ⁠discretionary and energy stocks ​offset gains across other sectors. Still, the market rose 0.7% for the week, snapping ‍a weekly losing streak. Conglomerate Alpha Dhabi Holding fell 0.5% and Abu Dhabi ​Commercial Bank slid 1.5%, while Presight AI Holding gained 1.2%. First Abu Dhabi Bank, the UAE's largest lender, added 0.5%.

"Market saw limited movement today. While the rebound in oil prices this week provided temporary support, the bearish 2026 surplus narrative remains a lingering risk that could weigh on investor sentiment in the coming months", said Joseph Dahrieh, managing principal at Tickmill.

Dubai's benchmark index ⁠shed 0.1%, pressured by declines in financial ‌and consumer discretionary shares, even as it logged its fifth consecutive weekly gain. Dubai Islamic Bank eased 0.8%, while low-cost ‌carrier Air ⁠Arabia fell 1.7%.

  • ABU DHABI ended flat at 10,033
  • DUBAI down 0.1% to 6,134

(Reporting by ⁠Md Manzer Hussain; Editing by Harikrishnan Nair)