Emirati Indices Close Diverged as OPEC+ Affirms Steady Output, Key Economic Data Nears

06:44 AM EST, 01/05/2026 (MT Newswires) -- Stock trading in the United Arab Emirates started the new week mixed as investors turned cautious amid fluctuating oil prices and mounting geopolitical uncertainties. At the close of Monday trading, the FTSE ADX General Index lost 0.506%, and the DFM General Index added 0.268%. OPEC+ on Sunday affirmed its decision to keep oil output steady for January 2026, February 2026, and March 2026 following a more than 18% decline in prices in 2025 and low demand. The members will meet again on Feb. 1, 2026. The local economic calendar includes the release of the S&P Global UAE PMI data for December 2025 on Tuesday, which will provide investors with insights into the health of the country's non-oil private sector. The index jumped to a nine-month high of 54.8 in November 2025. On the corporate front, Abu Dhabi Islamic Bank (ADX:ADIB) closed 1.35% lower. The Abu Dhabi-listed lender signed a memorandum of understanding with Dubai Chambers to deliver banking services and support to local small and medium-sized enterprises. Over in Dubai, Drake & Scull International (DFM:DSI) secured a 17 million-euro electromechanical systems and piping contract for the Tanta wastewater treatment plant in Egypt through its German subsidiary Passavant Energy & Environment. Shares of the general contracting and engineering company closed the session flat. Across the pond, market watchers will be closely monitoring the developments related to the US capture of Venezuelan President Nicolás Maduro. "...Developments over the weekend have led to shockwaves around the globe, with the US arresting Venezuelan President Nicolas Maduro and flying him to the US to face criminal charges related to drug trafficking. We won't speculate on the exact reasons behind the decision by the US administration to remove Maduro, but clearly, it has potentially significant implications for the oil market," ING said.