DUBAI: Gulf equities ended largely subdued on Monday, pressured by renewed tensions in the US tariff war, though some investors hoped President Donald Trump’s threats were largely rhetorical.
Trump said on Saturday he would impose a 30% tariff on most EU and Mexican imports starting August 1, despite ongoing talks.
The European Union extended a suspension of countermeasures to US tariffs until early August while seeking a negotiated settlement, but Germany’s finance minister Lars Klingbeil urged firm action if the levies go ahead.
Saudi Arabia’s index dropped 0.4%, extending previous session’s losses, with Saudi Arabian Mining Company retreating 1.1%.
ACWA Power Co gained 0.6% after signing $8.3 billion in clean energy deals, helping limit the decline.
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