Adedokun Waliyu 
Most Gulf equities closed higher on Wednesday, with UAE markets lifted by financial stocks after the country’s central bank launched a resilience package, helping investors claw back some losses due to the Iran war and wider Middle East conflict.
Israel stepped up its offensive by killing Iran’s security chief, while Iran renewed attacks on oil facilities in the United Arab Emirates. A senior Iranian official said the country’s new supreme leader had rejected de-escalation proposals relayed through intermediaries, dimming prospects of a swift end to a conflict that has sent global oil prices surging.
Dubai’s main share index (.DFMGI), opens new tab rose as much as 3.4 before concluding 0.8% higher, helped by a 4.4% rise in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
Elsewhere, MashreqBank (MASB.DU), opens new tab advanced 4.8%.
However, top lender Emirates NBD (ENBD.DU), opens new tab – which surged more than 9% – closed 0.9% higher.
Dubai, a major travel and tourism hub in the Middle East, has been significantly affected by the war, with its bourse falling nearly 20% at its lowest point before cutting losses to around 15%.
The UAE central bank said on Tuesday it had approved a broad financial resilience package to strengthen the stability of the country’s banking sector.
The central bank said UAE banks hold nearly $250 billion in liquidity and eligible assets, and under the package will get greater access to reserve balances of up to 30% and term liquidity facilities in both dirhams and U.S. dollars.
In Abu Dhabi, the index (.FTAFDGI), opens new tab added 0.2%, with Abu Dhabi Commercial Bank (ADCB.AD), opens new tab jumping 3.6%.
The rebound highlights the UAE’s financial resilience and long-term appeal to investors, said Samer Hasn, senior market analyst at XS.com. He said recent weakness may offer attractive entry points, supported by the country’s regulatory framework, political stability, and business-friendly environment.
The Qatari benchmark (.QSI), opens new tab dropped 1%, with the telecoms firm Ooredoo (ORDS.QA), opens new tab losing 3.6%.
Oman’s index (.MSX30), opens new tab gained 1.3% and Bahrain’s (.BAX), opens new tab edged 0.1% higher.
Elsewhere, Boursa Kuwait (.BKP), opens new tab lost 0.5%.
Saudi Arabia’s stock market was closed for the Eid holidays.
Outside the Gulf, Egypt’s blue-chip index (.EGX30), opens new tab climbed 3.4%, with Commercial International Bank (COMI.CA), opens new tab surging 8.5%.
