Mideast Stocks: Most Gulf equities slip as fragile truce jitters investors
09/04/2026 14:22
Adds closing prices, analyst comment By Ateeq Shariff April 9 (Reuters) - Most Gulf stock markets fell on Thursday as a fragile regional truce appeared to be under strain, spooking investors and reviving concerns over prolonged geopolitical and inflationary risks. The ceasefire's durability was cast into doubt on Wednesday as Israel continued strikes on Lebanon, with Iran saying it would be "unreasonable" to pursue talks on a lasting peace deal. Israel and the United States both said the two-week ceasefire did not cover Lebanon, and Israeli Prime Minister Benjamin Netanyahu said the strikes would continue. Iran also targeted oil infrastructure in neighbouring Gulf states, including a Saudi pipeline used as an alternative route to the blockaded Strait of Hormuz, an oil industry source said. Kuwait, Bahrain and the UAE likewise reported missile and drone strikes. Dubai's main share index .DFMGI dropped 1.5%, a day after gaining more than 6%, weighed down by a 3.9% slide in blue-chip developer Emaar Properties EMAR.DU and a 3.3% fall in top lender Emirates NBD ENBD.DU. Budget airliner Air Arabia AIRA.DU advanced 1.8%. In Abu Dhabi, the index .FTFADGI fell 0.3%, with Aldar Properties ALDAR.AD down 3.2%. Although initial optimism has softened, upside potential remains intact provided geopolitical conditions stabilise further and the outlook becomes clearer, said Daniel Takieddine, co-founder and CEO, Sky Links Capital Group. The UAE will seek clarity on the terms of the two-week U.S.-Iran ceasefire to ensure Tehran fully commits to halting regional attacks and unconditionally reopening the Strait of Hormuz, a Foreign Ministry spokesperson said on X. The Qatari index .QSI pared losses to close just 0.2% lower, with the Gulf's biggest lender Qatar National Bank QNBK.QA falling 0.3%. Saudi Arabia's benchmark index .TASI was unchanged. Saudi Aramco 2222.SE gained 0.8%. The kingdom has an edge over regional neighbours as it can reroute its oil exports. A Reuters analysis showed Saudi Arabia benefited from higher oil prices with estimated March oil revenue rising from a year earlier, while countries without alternative routes lost billions. Brent crude futures LCOc1 were up $3.41, or 3.6%, at $98.16 a barrel at 1244 GMT. O/R Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1%, led by a 1.3% rise in Commercial International Bank COMI.CA.
| Saudi Arabia | .TASI closed flat at 11,343 |
| Abu Dhabi | .FTFADGI eased 0.3% to 9,836 |
| Dubai | .DFMGI declined 1.5% to 5,694 |
| Qatar | .QSI eased 0.2% to 10,642 |
| Egypt | .EGX30 gained 1% to 49,079 |
| Bahrain | .BAX added 0.3% to 1,894 |
| Oman | .MSX down 0.9% to 8,163 |
| Kuwait | .BKP lost 0.5% to 9,214 |
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