U.S.-Iran Ceasefire Eases War Concerns; Dubai Stock Market Posts Largest Gain in Ten Years

Golden Finance reported that on April 8, after the United States and Iran reached an agreement on a two-week ceasefire, Dubai’s benchmark stock index posted its largest jump in more than a decade. Earlier, the conflict had roiled Gulf markets and posed a threat to the region’s energy infrastructure. The Dubai Financial Market’s General Index surged by as much as 10% during the day, marking the largest intraday gain since December 2014. After several weeks of market volatility triggered by the war, investors flocked into the real estate and banking sectors. Abu Dhabi’s stock market also moved higher in tandem, with the ADX General Index reaching a maximum intraday gain of 3.5%, the largest single-day increase since March 2024. The ceasefire put a pause on U.S.-Israel military actions against Iran in exchange for the Strait of Hormuz reopening, which is helping to restore oil transportation. Brent crude oil futures plunged by as much as 16%, while stock markets around the world generally rose. In the days leading up to this, regional fighting continued to escalate, and attacks were also reported within the UAE, heightening market concerns about the security of the Persian Gulf’s key energy facilities and shipping routes. (Zhitong Finance)