DUBAI: Gulf stock markets ended mixed on Sunday, with traders treading carefully against the backdrop of an escalating standoff between Washington and Tehran.
Iran has pledged to counter crippling US sanctions while threatening a “painful response” to any further aggression. Six months after initial US-Israeli strikes, the conflict remains at a stalemate as diplomatic peace efforts stall following the collapse of a June ceasefire.
Meanwhile, tit-for-tat military action has resumed after a brief July lull, with US Central Command confirming it struck three Iranian tankers on Saturday in retaliation for ballistic missile attacks on two US Navy warships.
Saudi Arabia’s benchmark index edged 0.3 percent higher, bolstered by heavyweight lenders, as Al Rajhi Bank gained 0.7 percent and Saudi National Bank climbed 1.1 percent.
In Qatar, the index lost 0.3 percent, hit by a 0.7 percent fall in Qatar Islamic Bank .
Outside the Gulf, Egypt’s blue-chip index advanced 0.7 percent, led by a 2.2 percent rise in Talaat Moustafa Group Holding.
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