Mideast Stocks: Most Gulf bourses gain on upbeat earnings

Commercial International Bank Egypt CIB

12/02/2026 13:49

Updates with closing prices

By Ateeq Shariff

Feb 12 (Reuters) - Most Gulf stock markets reversed early losses to close higher on Thursday as investors shifted focus to earnings, brushing aside concerns over U.S.-Iran tensions.

Saudi Arabia's benchmark index .TASI advanced 0.8%, with petrochemical maker Saudi Basic Industries Corp 2010.SE gaining 2.7%.

Fourth-quarter earnings have been broadly upbeat, indicating the market could regain its earlier upward momentum once conditions stabilize, said Milad Azar, market analyst at XTB MENA.

"Additionally, any reduction in the regional geopolitical tensions that have recently weighed on sentiment could further aid a recovery."

U.S. President Donald Trump met Israeli Prime Minister Benjamin Netanyahu on Wednesday and later said they had not reached any "definitive" agreement regarding Iran, but emphasised that negotiations with Tehran would continue.

It came a day after Trump said he was considering deploying a second aircraft carrier to the Middle East if no deal is reached with Iran.

Dubai's main share index .DFMGI added 0.4%, with top lender Emirates NBD  ENBD.DU rising 2.5%.

Blue-chip developer Emaar Properties  EMAR.DU, however, fell 0.6%. After market hours, Emaar reported an annual net profit of 17.60 billion dirhams ($4.79 billion), up from 13.51 billion dirhams a year earlier.

In Abu Dhabi, the index .FTFADGI rose 0.3%, led by a 5.5% jump in Aldar Properties  ALDAR.AD — its biggest intraday gain since June.

Last week, the Abu Dhabi developer reported a fourth-quarter net profit of 2.9 billion dirhams ($789.59 million), up 49% year-on-year.

The Qatari index .QSI edged 0.1% higher, with Qatar Islamic Bank  QISB.QA rising 1%.

However, petrochemical maker Industries Qatar  IQCD.QA retreated 2.2%, to be the top loser, following an annual profit drop.

Elsewhere, Qatar Gas Transport  QGTS.QA fell 1%, as the firm traded ex-dividend.

Outside the Gulf, Egypt's blue-chip index .EGX30 climbed 1.6%, led by a 2.9% increase in Commercial International Bank  COMI.CA.

Saudi Arabia
.TASI rose 0.8% to 11,252
Abu Dhabi
.FTFADGI up 0.3% to 10,689
Dubai
.DFMGI added 0.4% to 6,715
Qatar
.QSI gained 0.1% to 11,516
Egypt
.EGX30 advanced 1.6% to 50,490
Bahrain
.BAX eased 0.1% to 2,052
Oman
.MSX30 jumped 2.1% to 7,178
Kuwait
.BKP was up 0.1% to 9,287

($1 = 3.6728 UAE dirham)

(Reporting by Ateeq Shariff in Bengaluru; Editing by Harikrishnan Nair and Shilpi Majumdar)

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