Abu Dhabi, February 22, 2026, 11:48 (GST) — Market closed.
- Abu Dhabi’s benchmark index slipped 0.3% on Friday as U.S.-Iran tensions resurfaced.
- Aldar slid 2.6% after announcing a $1 billion subordinated hybrid note placement with Apollo.
- Invictus climbed 1.6% after posting a 34% jump in full-year profit.
Abu Dhabi’s benchmark index slipped 0.3% on Friday as investors weighed growing U.S.-Iran tensions after President Donald Trump set a 10–15 day deadline for Tehran on nuclear talks. Aldar Properties fell 2.6% and Agility Global dropped 1.4%, while Invictus Investment rose 1.6% after a profit update; Dubai’s main index closed 0.3% lower and Brent crude eased 0.4% to $71.38 a barrel. (Reuters)
That matters because the ADX can trade like a geopolitical barometer when the news turns. Oil still sets the mood, and the mood can swamp even decent company updates.
The index was last around 10,581 points after Friday’s close, according to Trading Economics data tracking the Abu Dhabi market. Monday’s open will show whether sellers are done, or just pausing. (Trading Economics)
Aldar, the market’s real estate heavyweight, is back in focus after it tapped Apollo Global Management for $1.0 billion of subordinated hybrid notes through a private placement. Hybrid notes are debt with equity-like features; Aldar said it will inject the proceeds as equity into Aldar Investment Properties and repay $500 million of perpetual hybrid notes issued to Apollo in 2022, lifting Aldar’s stake in the unit to 90%. Aldar CFO Faisal Falaknaz called the financing “long-term, flexible capital” that “enhances balance sheet resilience,” while Apollo partner Jamshid Ehsani said the fifth deal shows Apollo’s ability to “structure flexible capital solutions.” (vazeno.files.cmp.optimizely.com)
The stock still fell hard on Friday, a reminder that rate and risk headlines can trump structure. Traders will look for any follow-through buying, especially if oil steadies.
Invictus, by contrast, handed the market clean numbers. The company said audited 2025 results showed EBITDA — earnings before interest, tax, depreciation and amortisation — up 184% to 458.5 million dirhams, revenue up 49% to 13.3 billion, and net profit up 37% to 227.6 million; the board recommended a 40 million dirham cash dividend. CEO Amir Daoud Abdellatif called 2025 “a defining year” and flagged a stronger pipeline of investments as the group pushes toward a 25 billion dirham revenue target by 2028. (apigateway.adx.ae)
For the broader market, the next few sessions will test whether company stories can reassert themselves. Property, banks and energy-linked names tend to take the first hit when risk appetite goes soft.
But the risk is simple and lopsided. Any further deterioration in U.S.-Iran headlines could trigger another fast de-risking move, and the ADX does not always have deep liquidity to absorb it, especially when big caps start sliding together.
One item on the local calendar: ADX said trading in Emirates Telecom Group (Etisalat Group) shares will be suspended from 13:00 local time on Feb. 24 until the exchange receives the board meeting results — a mid-session stop that can add friction for traders in one of the market’s most watched names. (apigateway.adx.ae)
