Mideast Stocks: Dubai leads Gulf stocks higher on hopes of de-escalation in Iran war

Commercial International Bank Egypt CIB

01/04/2026 14:40

Adds closing prices, analyst comment

By Ateeq Shariff

April 1 (Reuters) - Gulf stock markets ended higher on Wednesday amid hopes of a de-escalation in the Iran conflict, with Dubai leading gains as its 1 billion dirham ($272.3 million) support package came into effect.

U.S. President Donald Trump said on Tuesday that Washington could end its military campaign within two to three weeks and that Tehran is not required to reach a deal to stop the conflict, signaling most clearly his intent to bring the month-long war to a close.

Dubai's main stock index .DFMGI advanced 2%, led by a 5.6% surge in blue-chip developer Emaar Properties EMAR.DU and a 4.7% jump in top lender Emirates NBD ENBD.DU.

Dubai approved 1 billion dirhams ($272.26 million) in economic support measures for the business sector, effective immediately for a period of three to six months, the crown prince said on X on Monday.

GCC equity markets advanced as hopes of a de-escalation in Middle East tensions helped restore some stability. If these expectations are realized, the recovery could become more sustained over the medium term, said Milad Azar, a market analyst at XTB MENA.

Support from the Dubai government's new package could ease economic pressures and support growth, providing further boost to the market, Azar said. "Additionally, the UAE continues to benefit from resilient fundamentals."

In Abu Dhabi, the index .FTFADGI gained 1.4%, with Aldar Properties ALDAR.AD closing 0.9% higher.

The Qatari benchmark index .QSI rose 0.8%, with petrochemicals maker Industries Qatar IQCD.QA finishing 3.9% higher.

Meanwhile, an Iranian cruise missile struck an oil tanker leased by state-owned QatarEnergy in Qatari waters on Wednesday, .

Saudi Arabia's benchmark index .TASI added 0.2%, helped by a 1.2% gain in Saudi National Bank 1180.SE, the country's biggest lender by assets, and a 0.6% rise in oil giant Saudi Aramco 2222.SE.

In Saudi Arabia, the market has stabilized after a steady recovery this month, with still-elevated oil prices continuing to support sentiment, said Azar.

Oil, however, reversed earlier gains on Wednesday as uncertainty over the situation in the Middle East continued to unnerve markets. O/R

Outside the Gulf, Egypt's blue-chip index .EGX30 leapt more than 3%, as most of its constituents were in positive territory including Commercial International Bank COMI.CA, which gained 3.1%.

Saudi Arabia
.TASI added 0.2% to 11,276
Abu Dhabi
.FTFADGI rose 1.4% to 9,650
Dubai
.DFMGI gained 2% to 5,545
Qatar
.QSI was up 0.8% to 10,271
Egypt
.EGX30 advanced 3% to 46,731
Bahrain
.BAX rose 0.2% to 1,902
Oman
.MSX30 added 0.3% to 8,190
Kuwait
.BKP closed up 0.8% to 9,085

($1 = 3.6719 UAE dirham)

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Mrigank Dhaniwala and Diti Pujara)

 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788))