Stock markets in the Gulf ended mixed on Thursday as U.S. President Donald Trump's latest announcements continued to weigh on investor sentiment.
Trump said this week the U.S. would take over the war-ravaged Gaza Strip and develop it economically after Palestinians are resettled elsewhere, actions that could impact decades of U.S. policy toward the Israeli-Palestinian conflict.
His proposal sent diplomatic shockwaves around the region and globe. However, Israel's government welcomed it, and its defence minister on Thursday ordered the army to prepare a plan for the "voluntary departure" of Gaza residents.
Saudi Arabia's benchmark index (.TASI), opens new tab added 0.2%, helped by a 4.1% rise in Saudi Arabian Mining Company (1211.SE), opens new tab.
Dubai's main share index (.DFMGI), opens new tab gained 0.5%, helped by a 0.7% rise in blue-chip developer Emaar Properties (EMAR.DU), opens new tab and a 3.3% increase in Parkin Company (PARKIN.DU), opens new tab.
The United Arab Emirates' foreign trade touched 3 trillion dirhams ($816.86 billion) for the first time by the end of 2024, Prime Minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said in a post on X on Wednesday.
In Abu Dhabi, the index (.FTFADGI), opens new tab eased 0.2%, hit by a 1.5% fall in biggest lender First Abu Dhabi Bank (FAB.AD), opens new tab.
The bank reported net profit of 4.2 billion dirhams in the fourth quarter, up 4% on the year. However, this was a sharp decline from the third quarter, when profits rose 46%.
The Qatari index (.QSI), opens new tab fell 0.4%, hit by a 0.9% fall in Qatar National Bank (QNBK.QA), opens new tab and a 2.4% decline in Qatar Electricity and Water Company (QEWC.QA), opens new tab.
Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab gained 0.9%, with tobacco monopoly Eastern Company (EAST.CA), opens new tab advancing 6.6%.
