BENGALURU: Gulf stock markets closed mixed on Thursday while investors assessed renewed diplomatic efforts between the United States and Iran and progress in talks over the Strait of Hormuz.
Qatar’s prime minister visited Tehran on Thursday in a bid to revive diplomacy after the United States and Iran exchanged recriminations over Washington’s plans to step up economic pressure on Tehran, a move an Iranian official described as “all-out economic war”.
Dubai’s main index rose 0.3 percent, with most sectors ending in positive territory. Emirates NBD, Dubai’s largest lender, gained 1.2 percent, while toll-road operator Salik Company advanced 1.3 percent.
Qatar’s index added 0.2 percent, led by materials and energy stocks. Gulf International Services surged 6 percent, while Qatar Gas Transport rose 1.1 percent.
QatarEnergy has issued a spot tenderto sell light and full-range naphtha cargoes on a free-on-board basis from Ras Laffan port, near the Strait of Hormuz, traders said. A document reviewed by Reuters on Wednesday confirmed the tender.
Abu Dhabi’s benchmark was little changed. ADNOC Gas fell 1.2 percent, while First Abu Dhabi Bank, the UAE’s largest lender, rose 1.1 percent.
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