Sat, Dec 21, 2024 | 19 Jumada Al-Akhirah 1446
Sat, Dec 21, 2024 | 19 Jumada Al-Akhirah 1446
In the wake of the recent Middle East crisis, investors in the UAE and Gulf region are treading cautiously. The crisis has led to fluctuations in various markets, with gold prices experiencing a decline while Bitcoin sees a resurgence.
At the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX), indices dipped early on in response to the crisis. Major companies such as Emaar Properties, Union Properties, and banks like Emirates NBD and DIB were among those affected, though some recovery was noted later in the trading session.
Analysts suggest that the uncertainty surrounding the middle east crises situation is likely to keep markets choppy in the near term. However, investors across the UAE and GCC are carefully weighing the geopolitical implications of recent events.
Despite the turbulence, there are positive expectations for Q1-2024 financial results, particularly among UAE banks. Additionally, the recent volatility has impacted gold prices, which saw a retreat following the crisis. Bitcoin, on the other hand, has witnessed a price increase, albeit with expected fluctuations.
Investors are staying alert during the crisis, especially with concerns about oil prices and inflation. Even though the immediate effects might not be too strong, ongoing tensions mean they need to be careful and think strategically about their investments.
