UAE stock markets rose Wednesday, boosted by expectations of a ceasefire following reports that Washington has presented Tehran with a 15-point settlement proposal aimed at ending the conflict.
In Abu Dhabi, the Abu Dhabi Financial Market General Index increased 1.1%, with Aldar Properties rising 2.5%.
Progress in U.S. Negotiations
A source confirmed to Reuters that the United States sent the proposal to Iran, although an Israeli news channel reported that Washington is seeking a one-month ceasefire to allow for discussion of the plan. The potential for de-escalation provided a lift to regional equity markets.
Tehran, however, denied any direct talks, with an Iranian armed forces spokesperson quoted by the official Iranian news agency (IRNA) stating that the United States is “negotiating with itself.”
