Most stock markets eked out small gains on Sunday despite hopes for a diplomatic breakthrough in the U.S.-Israeli conflict with Iran fading, with stalled talks underscoring the hardening positions of both Tehran and Washington.
Though a ceasefire has been in place, no deal has been reached to end a war that has killed thousands, driven up oil prices, fuelled inflation and dimmed global growth prospects.
The war has deepened instability in the Middle East, with Tehran striking its Gulf neighbours and fighting resuming between Israel and Hezbollah in Lebanon after Prime Minister Benjamin Netanyahu ordered a forceful assault on Hezbollah targets on Saturday, putting a U.S.-brokered ceasefire under further strain.
Saudi Arabia's benchmark index (.TASI), opens new tab edged 0.1% higher, helped by a 0.6% rise in Al Rajhi Bank (1120.SE), opens new tab and a 1.4% increase in Saudi Arabian Mining Co (1211.SE), opens new tab.
Shares in Rabigh Refining and Petrochemical Co (2380.SE), opens new tab jumped 10% to 12.65 riyals ($3.37), the highest since October 2022, after the company swung to its first quarterly profit in nearly two years.
Oil major Saudi Aramco (2222.SE), opens new tab eased 0.4%.
In Qatar, the index (.QSI), opens new tab added 0.1%, supported by a 0.6% gain in petrochemical maker Industries Qatar (IQCD.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab edged 0.1% higher.
Analysts in a Reuters poll have cut their forecasts for Egypt's economic growth this year and next, citing higher energy prices and rising inflationary pressure from the Iran war.
Last week the IMF reduced its projected growth to 4.2% in calendar 2026 from an earlier estimate of 4.7%.
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