Abu Dhabi, Dubai Stocks Fall as Corporate Earnings Take Center Stage

07:39 AM EDT, 10/22/2026 (MT Newswires) -- Emirati equities closed in the red as investors assessed the latest corporate earnings reports from companies operating in various sectors of the region. At the close of Thursday trading, the FTSE ADX General Index lost 0.707%, while the DFM General Index declined 0.72%. ADNH Catering (ADX:ADNHC) reported lower attributable profit of 28.9 million Emirati dirhams in the third quarter despite 9.2% year-over-year revenue growth. Ras Al Khaimah National Insurance (ADX:RAKNIC), d/b/a RAK Insurance, saw its third-quarter profit surge to 20.6 million dirhams backed by disciplined underwriting. ADNH Catering gained 2.06% while RAK Insurance ended the session flat. Emirates Integrated Telecommunications Co. (DFM:DU), d/b/a du, recorded a 7.3% year-over-year growth in attributable profit for the third quarter due to strong growth in fixed, information and communications technology, and wholesale segments. Du shares were 1.15% in the green at closing. "Our nine-month results show the resilience of our business and our focus on growing with purpose. Revenue rose 6.2% to AED 12.3 billion, EBITDA grew 9.2% and net profit increased 10.8%, reflecting the strength of our operating model and our disciplined execution during a period of disruption," du Chief Executive Officer Fahad Al Hassawi commented. In other news, Dubai Chambers held the Dubai-Uzbekistan business seminar to explore trade and investment opportunities and boost economic ties between the business communities of both regions. On the geopolitical front, regional risks continued to escalate as Iran's Islamic Revolutionary Guard Corps claimed attacks on seven vessels in the Strait of Hormuz and the Persian Gulf. Meanwhile, a New York Times report stated that the US and Israel are planning to attack Iranian energy infrastructure after the midterm elections in November. "All those headlines have come amidst little sign of progress towards a deal. Indeed, Iran's foreign minister Abbas Araghchi wrote in an FT op-ed yesterday that 'we have no trust whatsoever in the sincerity of the US administration's professed desire for peace with Iran.' And he also said 'there is little reason to expect progress now'. So that dampened hopes for a near-term resolution, and oil prices have continued to rise over the last 24 hours," Deutsche Bank Research said.