Most Gulf stock markets ended higher on Monday as regional geopolitical tensions eased, while Saudi Arabia's benchmark index finished flat amid soft oil prices and profit-taking.
Iran's lethal crackdown appears to have largely subdued the protests for now, residents said on Friday, as state media reported further arrests.
U.S. President Donald Trump also appeared to soften his earlier intervention threats, posting on social media that Iran had halted alleged plans for mass executions of protesters, though Iranian authorities had made no such announcement.
Dubai's main share index (.DFMGI), opens new tab advanced 0.4%, with blue-chip developer Emaar Properties (EMAR.DU), opens new tab rising 1% and Sharia-compliant lender Dubai Islamic Bank (DISB.DU), opens new tab advancing 1.4%.
In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab finished 0.5% higher.
In the UAE, equities extended last week's gains, underpinned by optimism around the earnings season. Both Dubai and Abu Dhabi posted broad-based advances, supported by solid fundamentals and expectations of strong results, though oil-price swings remain a key risk for sentiment, said Milad Azar Market analyst at XTB MENA.
The Qatari index (.QSI), opens new tab gained 0.7%, led by a 1.5% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab.
Saudi Arabia's benchmark index (.TASI), opens new tab concluded flat.
Traders are awaiting further fourth-quarter earnings releases this week as the season kicks off.
While the market relies on solid economic fundamentals and a 4.5% growth projection for 2026, volatile oil prices and geopolitical uncertainty continue to pose risks, said Azar.
Oil prices, a catalyst for the Gulf's financial markets, were down after rising in the previous session as civil unrest in Iran subsided.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab leapt 2.5%, closing at an all-time high, as most of the stocks were in positive territory.
No comments:
Post a Comment