DUBAI: Gulf stock markets ended mixed on Thursday after Israel and Lebanon agreed to implement a ceasefire, fueling optimism about a broader deal to end the US-Iran conflict, although regional tensions persisted.
The Israel-Lebanon ceasefire is contingent on a complete cessation of fire from the Iran-aligned Hezbollah militia and the evacuation of all its operatives from the South Litani Sector, a joint statement released by the US State Department said following negotiations in Washington.
Saudi Arabia’s benchmark index eased 0.1 percent, hit by a 0.5 percent fall in Saudi National Bank, the country’s biggest lender by assets, and a 0.4 percent decrease in oil major Saudi Aramco.
Brent futures were down USD3.05, or 3.1 percent, at USD94.76 a barrel at 1224 GMT.
Dubai’s main share index gained 0.6 percent, with blue-chip developer Emaar Properties.
In Abu Dhabi, the index finished flat.
The Qatari index fell 0.6 percent, with the Gulf’s biggest lender Qatar National Bank losing 1.1 percent.
Outside the Gulf, Egypt’s blue-chip index was up 0.2 percent.
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