Most stock markets in the Gulf ended higher on Monday as investors waited to see if imminent U.S. tariffs would be implemented.
U.S. Commerce Secretary Howard Lutnick said on Sunday that tariffs on Canada and Mexico will go into effect on Tuesday, but that President Donald Trump will determine whether to stick with the planned 25% level.
Lutnick's comments were the first indication from Trump's administration that it may not impose the full threatened 25% tariffs on all goods from Mexico and non-energy imports from Canada.
Saudi Arabia's benchmark index (.TASI), opens new tab gained 0.7%, snapping a five-session losing streak, with Al Rajhi Bank (1120.SE), opens new tab advancing 2.6% and the country's biggest lender Saudi National Bank (1180.SE), opens new tab concluding 2% higher.
Among other gainers, Saudi Aramco (2222.SE), opens new tab climbed 1.1%, as the oil giant is slated to report its 2024 earnings on Tuesday.
However, utility firm Marafiq (2083.SE), opens new tab slid 4.8%, after its annual profit nosedived 97%.
Dubai's main share index (.DFMGI), opens new tab added 0.2%, helped by a 2.2% rise in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
Separately, Dubai-based GEMS Education plans to spend around $300 million over the next two-to-three years to increase organic growth, its CEO told Reuters, as it bets on population growth and an inflow of wealthy individuals.
In Abu Dhabi, the index (.FTFADGI), opens new tab closed 0.1% lower.
Oil prices - a catalyst for the Gulf's financial markets - were little changed after registering a monthly loss for the first time since November, while investors await the outcome of efforts to end the Russia-Ukraine war and repercussions from U.S. tariffs.
The Qatari index (.QSI), opens new tab finished 0.2% higher, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab rising 0.5% and Qatar Fuel (QFLS.QA), opens new tab putting on 1.6%.
On the other hand, Gulf International Services (GISS.QA), opens new tab tumbled 4.5%, as the firm traded ex-dividend.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab added 0.4%, with Commercial International Bank (COMI.CA), opens new tab rising 0.8%.
Egypt's net foreign assets (NFAs) jumped by $2.74 billion in January, boosted apparently by the sale of $2 billion in dollar-denominated bonds, central bank data showed.
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