MIDEAST stock markets ended mixed yesterday as investors assessed fresh US economic pressure on Iran and signs of progress in Pakistan-mediated talks with Tehran, while lower oil prices weighed on sentiment.
Brent crude, a key catalyst for Gulf financial markets, fell more than 2pc on hopes that the Strait of Hormuz could reopen.
Saudi Arabia’s benchmark index rose 0.3 per cent, with Etihad Etisalat Company gaining 3.1pc and Saudi Arabian Mining Company adding 1.3pc. Oil giant Saudi Aramco fell 0.7pc, while National Shipping Company of Saudi Arabia lost 2.3pc.
Dubai’s main index gained 0.6pc, led by communications and industrial shares.
Abu Dhabi’s benchmark declined 0.3pc, weighed down by a 1.5pc fall in Adnoc Gas and a 1pc drop in conglomerate International Holding Company.
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