Emirati Stocks Close Higher; Ukraine-Russia Tensions Escalate

07:00 AM EST, 12/23/2025 (MT Newswires) -- Stocks in the United Arab Emirates ended in the green on Tuesday as tensions between Russia and Ukraine rose, sending oil prices up in the process. At the close of trading, the FTSE ADX General Index was up 0.215%, while the DFM General Index was little changed at 0.064% in the green. Russia on Tuesday carried out a missile and drone attack on Ukraine's energy sector amid ongoing peace talks between the two countries. Ukrainian President Volodymyr Zelensky, in a post on social media platform X, formerly Twitter, stated that the attack consisted of more than 30 missiles and over 650 drones. Market watchers will also await the US Bureau of Economic Analysis' release of the US GDP numbers for the third quarter, which will provide insights into the health of the country's economic activity and its impact on the US Federal Reserve's next monetary policy move. Back home and on the corporate side, ESG Emirates Stallions Group (ADX:ESG) ended 6.28% lower. The construction and real estate services company's subsidiary Royal Development Holding concluded the sale of the first phase of the Radisson Residences Al Reem Island project in Abu Dhabi. Over in Dubai, Mashreq Bank (DFM:MASQ) closed a $2 billion syndicated loan comprising two tranches. Shares of the Dubai-listed digital and Sharia-compliant banking services provider closed the session 1.16% in the red. "Being the largest funding transaction in Mashreq's history, it underscores the depth of investor confidence in Mashreq's credit profile, strategy, and long-term fundamentals. This successful outcome and the new relationships we have built will support Mashreq's growth ambitions into 2026 and beyond," Mashreq's Group Chief Executive Officer Ahmed Abdelaal said.