a trader looks on near electronic boards showing stock market data at bahrain bourse after joe biden won the us presidency in manama bahrain november 8 2020 reutershamad i mohammed march 4 reuters  uae stock markets fell on friday in tandem with global markets as escalating tensions in the russiaukraine conflict undermined confidence and ended a run of gains spurred by high oil and commodity prices russian forces in ukraine seized europes biggest nuclear power station where a fire that had spooked financial markets was extinguished on friday read more global stocks extended their losses for the week as investors piled into government bonds and gold for cover while asian shares hit 16month lows oil prices rose as high as 11423 a barrel on friday as fears over disruption to russian oil exports in the face of western sanctions offset the prospect of more iranian supplies in the event of a nuclear deal with tehran the dubai stock market opened to the downside as investors secure their gains after a week of sharp increases said wael makarem senior market strategist – mena at exness in dubai the main share index dfmgi fell 09 breaking a fiveday run of gains financials and communications services were among the big fallers the index marked its strongest week in over two months with its gain of 41 abu dhabis index ftfadgi dropped 06 its first fall in six sessions the index rose 61 for the week its biggest weekly gain since jan 2021 reporting by tanvi mehta in bengaluru editing by jane merriman