UAE markets fall; Abu Dhabi has strongest week in more than a year

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A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed


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March 4 (Reuters) – UAE stock markets fell on Friday in tandem with global markets as escalating tensions in the Russia-Ukraine conflict undermined confidence and ended a run of gains spurred by high oil and commodity prices.

Russian forces in Ukraine seized Europe’s biggest nuclear power station where a fire, that had spooked financial markets, was extinguished on Friday. read more

Global stocks extended their losses for the week as investors piled into government bonds and gold for cover while Asian shares hit 16-month lows.

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Oil prices rose as high as $114.23 a barrel on Friday as fears over disruption to Russian oil exports in the face of…

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