Emirati Stocks Extend Gains; Persistent US Inflation Risks Raise December Rate-Hike Prospects

06:38 AM EST, 11/11/2026 (MT Newswires) -- Stocks in the United Arab Emirates continued their winning streak on Wednesday despite hotter-than-expected US inflation data fueling bets on a Fed rate hike in December. At the close of trading, the FTSE ADX General Index was 0.306% in the green, while the DFM General Index added 0.827%. The US consumer price index exceeded expectations as headline inflation rose 0.4% and core CPI climbed 0.3% in October. Before the release of the data, Fed Governor Christopher Waller stated that a 50-basis-point hike should be considered in December if core CPI hits 0.3% or higher in October. "This was the last inflation data point available to the US central bank ahead of its next meeting, and it provides no reason for the Fed to relax," Berenberg said in a note. "Markets are pricing in a 98% probability that the Fed will raise its benchmark interest rate by 25bp to a target range of 4.00% -4.25%, and we agree with this assessment. For the start of 2027, much will depend on future developments in the Middle East and energy prices. However, the likelihood of the Fed raising its key interest rate again in the new year - and therefore exceeding our current forecast - has increased." In other news, Iranian Supreme National Security Council Secretary Mohsen Rezaei stated that no talks are taking place between the US and Iran and that any new strikes will have consequences, Reuters reported. Back home and on the corporate side, Abu Dhabi Ports (ADX:ADPORTS), d/b/a AD Ports Group, reported higher third-quarter attributable profit of 767 million Emirati dirhams driven by 48% year-over-year revenue growth. The logistics and industry group closed the session 0.16% higher. Dubai-listed lender Emirates NBD Bank (DFM:EMIRATESNBD) signed a memorandum of understanding with JP Morgan Asset Management to explore and develop a framework for offering the latter's active exchange-traded funds through the bank's digital wealth architecture. Emirates NBD Bank shares were 4.31% in the green at closing.