Most Gulf markets gain on easing geopolitical tensions
- Saudi Arabia’s benchmark index, however, eased 0.1%, hit by a 0.7% fall in oil behemoth Saudi Aramco
Most Gulf stock markets advanced in early trade on Monday as regional geopolitical tensions eased, while Saudi Arabia’s benchmark index declined on weaker oil prices and profit-taking.
Iran’s lethal crackdown appears to have largely subdued the protests for now, residents said on Friday, as state media reported further arrests.
U.S. President Donald Trump appeared to soften his earlier intervention threats, posting on social media that Iran had halted alleged plans for mass executions of protesters, though Iranian authorities had made no such announcement.
Dubai’s main share index advanced 0.7%, with blue-chip developer Emaar Properties rising 1.4% and Sharia-compliant lender Dubai Islamic Bank advancing 1.2%.
In Abu Dhabi, the benchmark index was up 0.4%.
The Qatari index added 0.3%, helped by a 1.3% gain in petrochemical maker Industries Qatar.
Saudi Arabia’s benchmark index, however, eased 0.1%, hit by a 0.7% fall in oil behemoth Saudi Aramco.
Oil prices, a catalyst for the Gulf’s financial markets, were down after rising in the previous session as civil unrest in Iran subsided.
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