DUBAI: Stock markets in the Gulf ended mixed on Thursday as investors monitored developments in US tariff plans and the possible repercussions for global trade, ahead of key US economic data due later in the day. US President Donald Trump has said he would impose reciprocal tariffs on every country that charges duties on US imports, spurring concern over a widening global trade war and a possible acceleration of US inflation.
Saudi Arabia’s benchmark index erased early losses to end flat. Dubai’s main share index gained 0.3%, helped by a 3.9% rise in toll operator Salik Company.
In Abu Dhabi, the index closed flat, with food and drinks group Agthia plunging about 10%, the most on the index, despite reporting a bigger annual profit.
Oil prices, a catalyst for the Gulf’s financial markets, fell 1% as a potential peace deal between Russia and Ukraine continued to exert downward pressure, along with rising US crude inventories.