Most stock markets in the Gulf ended lower yesterday, with investors closely watching the high-stakes meeting between US President Donald Trump and China’s Xi Jinping for indications of a breakthrough in the Middle East conflict.
Saudi Arabia’s benchmark index eased 0.2 per cent, hit by a 0.8pc slide in oil major Saudi Aramco. Opec on Wednesday lowered its 2026 global oil demand growth forecast, joining the International Energy Agency and other forecasters in scaling back expectations as the Iran war weighs on the outlook.
Dubai’s main share index dropped 0.4pc, hit by a 1.6pc slide in toll operator Salik. The chairman of the UAE Banks Federation said on Wednesday there were no concerns over rising capital outflows or a dollar shortage amid the Iran war, even as the UAE seeks a currency swap arrangement with the US. In Abu Dhabi, the index finished flat.
Geopolitical risks continued to outweigh relatively calmer regional conditions. Persistent uncertainty and disruption in the Strait pressured investor sentiment and clouded the economic outlook, said George Pavel, general manager at Naga.com Middle East. Although higher oil prices may offer some support to energy exporters, ongoing volatility and limited diplomatic progress are likely to keep markets cautious in the near term, he said.
The Qatari index was up 0.2pc, with petrochemical maker Industries Qatar rising 1.4pc.
Outside the Gulf, Egypt’s blue-chip index fell 0.4pc. Egypt entered into a $1.5 billion financing agreement with the International Islamic Trade Finance Corporation on Wednesday, aimed at bolstering food and energy security.
Meanwhile, the Bahrain All Share Index closed at 1,935.96 points yesterday, marking a decrease of 3.65 points below the previous closing.
This decrease was due to the fall in the financials sector, materials sector and real estate sector.
Bahrain lslamic Index has closed at 930.09 points marking a decrease of 4.37 points below the previous closing.
Results indicated that 105 equity transactions took place with a volume of 3,196,186 worth BD753,348.
Investors traded mainly in the financials sector representing 83.05 per cent of the total value of securities traded.
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