Abu Dhabi, February 22, 2026, 11:48 (GST) — The market is now closed.
- The Abu Dhabi benchmark dipped 0.3% Friday, with U.S.-Iran tensions bubbling up again.
- Aldar dropped 2.6% following news of its $1 billion subordinated hybrid note placement with Apollo.
- Invictus shares gained 1.6% as the company reported full-year profit up 34%.
Abu Dhabi’s main index edged down 0.3% Friday, investors reacting to heightened U.S.-Iran friction after President Donald Trump imposed a 10–15 day window on Tehran for nuclear negotiations. Shares of Aldar Properties slipped 2.6%, Agility Global lost 1.4%. Invictus Investment, on the other hand, climbed 1.6% following its profit update. Dubai’s benchmark also came in 0.3% lower. Brent crude nudged down 0.4%, settling at $71.38 a barrel. (Reuters)
The ADX often acts as a kind of geopolitical gauge, especially when headlines shift. Oil remains the main driver—no surprise there—and even solid company news can get drowned out fast.
Trading Economics data put the index near 10,581 points after Friday’s close, with Abu Dhabi’s market watchers now looking to Monday’s open for any sign of whether the selling has run its course or is simply on hold. (Trading Economics)
Aldar is drawing attention again, lining up $1.0 billion in subordinated hybrid notes from Apollo Global Management via a private placement. These hybrid notes blend debt with some equity traits. According to Aldar, funds will go in as equity for Aldar Investment Properties, and $500 million in perpetual hybrid notes—issued to Apollo in 2022—will be paid off, bumping Aldar’s ownership in the unit up to 90%. CFO Faisal Falaknaz described the latest financing as “long-term, flexible capital” meant to “enhance balance sheet resilience.” Over at Apollo, partner Jamshid Ehsani said this fifth transaction for Aldar highlights Apollo’s skill at putting together “flexible capital solutions.” (vazeno.files.cmp.optimizely.com)
The stock posted sharp losses on Friday, underscoring how quickly rate or risk headlines can outweigh structure. Traders are watching for signs of renewed buying—particularly if oil prices level out.
Invictus turned in straightforward numbers. According to the company, audited 2025 results put EBITDA at 458.5 million dirhams, a 184% jump. Revenue climbed 49% to 13.3 billion, with net profit up 37% to 227.6 million. The board proposed a 40 million dirham cash payout. CEO Amir Daoud Abdellatif described 2025 as “a defining year,” highlighting a stronger slate of investments as Invictus eyes 25 billion dirhams in revenue by 2028. (apigateway.adx.ae)
Next up: the broader market faces a stretch that could show if individual company narratives can punch through. When risk appetite sours, property, banks, and energy-tied stocks usually catch the brunt first.
The risk stands out: it’s straightforward and one-sided. If U.S.-Iran headlines worsen, markets may see a sharp, quick bout of de-risking again. Liquidity on the ADX isn’t always deep enough to cushion that, particularly when the large caps lose ground in tandem.
Watching the local schedule, ADX is suspending Emirates Telecom Group (Etisalat Group) shares starting 13:00 local time on Feb. 24. The pause holds until the board meeting wraps up and results come in, putting a temporary brake on trading for one of the most closely followed stocks on the exchange. (apigateway.adx.ae)
