UAE Shares End Week Mixed as US Cites 'Productive Talks' with Iran, Rules Out Strikes

07:50 AM EDT, 10/09/2026 (MT Newswires) -- Emirati Equities struggled to find a unified direction on Friday despite investors breathing a sigh of relief amid hopes of potential de-escalation in the US-Iran conflict. At the close of Friday trading, the FTSE ADX General Index was little changed at 0.055% in the red, while the DFM General Index gained 0.332%. US President Donald Trump said in a post on his social media platform Truth Social that the US is having "productive discussions" with Iran and ruled out plans for striking the Middle Eastern country before the midterm elections in November. Trump, however, stated that the US blockade of Iranian ports will remain in effect. "On the Iranian side, Foreign Minister Abbas Araghchi said they were reviewing a US proposal and would respond to it in the next few days, according to Iran's Tasnim news agency. So both sides acknowledged that talks were happening, which took some of the pressure off oil prices into the close," Deutsche Bank Research commented. Trump's statements also resulted in downward pressure on oil prices as Brent crude oil futures stood at nearly $102.77 per barrel as of 3:08 pm UAE time, down 1.45% from the previous day. Back home and on the corporate front, NMDC Group (ADX:NMDC) expanded its fleet by adding the Abu Al Bakhoush self-propelled heavy-duty cutter suction dredger. The energy and marine services, engineering, procurement, and construction group closed the session 2.23% lower. Meanwhile, in Dubai, Taaleem Holdings (DFM:TAALEEM) recorded a 22% year-over-year decline in its fiscal 2026 profit due to high financing costs, depreciation of its expansion program, and lower finance and other income. The Dubai-listed education company ended flat.