Most Gulf markets gain ahead of earnings | Reuters

Most Gulf markets gain ahead of earnings | Reuters

Most Gulf stock markets ended higher on Tuesday as investors shifted their attention to corporate earnings, while also weighing U.S.-Iran tensions.

Iran and the U.S. are expected to restart nuclear talks on Friday in Turkey, officials from both sides told Reuters on Monday. Trump also warned that with large U.S. warships moving toward Iran, "bad things could happen" if the sides fail to reach a deal.

Saudi Arabia's benchmark index (.TASI), opens new tab edged 0.1% higher, helped by a 2.2% rise in Saudi Arabian Mining Company (1211.SE), opens new tab.

The kingdom's economy grew 4.9% year-on-year in the fourth quarter, according to government estimates, bolstered by strong growth in non-oil activities and increased oil production.

Oil-related growth surged in the quarter, up 10.4% as output ramped up in the latter half of the year.

Saudi stocks turned choppy after a rebound, but sentiment may improve after the CMA said it is reviewing foreign-ownership limits to further open the market, Milad Azar, market analyst at XTB MENA, said. The market still has upside potential on generally solid fourth-quarter earnings, though oil-price volatility remains a key risk, Azar added.

Dubai's main share index (.DFMGI), opens new tab gained 0.6%, with toll operator Salik Company (SALIK.DU), opens new tab rising 2.6%.

In Abu Dhabi, the index (.FTFADGI), opens new tab advanced 1.3%, with ADNOC Distribution (ADNOCDIST.AD), opens new tab closing 0.9% higher, following a sharp rise in fourth-quarter net profit.

According to Azar, the Abu Dhabi market has the potential for further growth as corporate fundamentals remain positive, although volatility in oil markets could still weigh on overall sentiment.

The Qatari index (.QSI), opens new tab added 0.1%, with Qatar National Bank (QNBK.QA), opens new tab, the Gulf's biggest lender by assets, rising 0.5%.

Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab jumped 2.9%, hitting a new record high, with most of its constituents closing in positive territory.

Egypt's non-oil private sector output grew for the third consecutive month in January, marking the longest period of expansion since late 2020, S&P Global reported on Tuesday, but demand conditions eased.