Mideast Stocks: Most Gulf markets end higher on earnings, Fed cuts; Saudi falls

Commercial International Bank Egypt CIB

30/10/2025 13:03

Updates to closing prices

By Ateeq Shariff

Oct 30 (Reuters) - Most Gulf stock markets ended higher on Thursday after a U.S. rate cut, healthy local corporate earnings and a trade détente between the U.S. and China, although the Saudi index bucked the trend by closing lower.

U.S. President Donald Trump said he had made a deal with Chinese President Xi Jinping on rare earths and tariffs. Gulf countries trade heavily with the two nations.

However, global markets sold off, as traders have seen previous promising starts followed by setbacks. MKTS/GLOB

On Wednesday, the U.S. Federal Reserve lowered rates, in line with market expectations. However, it signalled that it might be the last cut of the year as the ongoing government shutdown threatens data availability.

U.S. monetary policy shifts have a significant impact on Gulf markets, where most currencies are pegged to the dollar.

Abu Dhabi index .FTFADGI gained 0.5%, with Emirates Telecommunications Group EAND.AD advancing 3.9% after it reported a 1% increase in third-quarter profit and a revenue jump of around 30%.

Dubai's main share index .DFMGI closed 0.3% higher, with top lender Emirates NBD ENBD.DU rising 0.9%.

The Qatari index .QSI rose 0.3%, bolstered by a 3.5% leap in telecom firm Ooredoo ORDS.QA after its board approved raising the target dividend payout range to 50%-70% of normalised net profit, up from 40%-60%. The firm also posted an 11% rise in third-quarter profit.

Saudi Arabia's benchmark index .TASI dropped 0.8%, hit by a 3.9% slide in Al Rajhi Bank 1120.SE and a 2.5% decrease in Saudi National Bank 1180.SE, the country's biggest lender by assets.

However, insurer Bupa Arabia 8210.SE advanced 7.8% following a quarterly profit rise.

Among other gainers, Arabian Drilling 2381.SE jumped 10% - its largest intraday gain since its 2022 listing - after receiving resumption notices for two offshore rigs. They will commence operations in the first quarter of 2026 and drive 100% utilisation in the offshore segment by the second quarter.

Outside the Gulf, Egypt's blue-chip index .EGX30 added 0.1%, with Commercial International Bank COMI.CA gaining 0.9%.

Saudi Arabia
.TASI fell 0.8% to 11,656
Abu Dhabi
.FTFADGI gained 0.5% to 10,212
Dubai
.DFMGI added 0.3% to 6,105
Qatar
.QSI rose 0.3% to 10,957
Egypt
.EGX30 was up 0.1% to 38,268
Bahrain
.BAX gained 0.7% to 2,063
Oman
.MSX30 increased 0.7% to 5,610
Kuwait
.BKP climbed 0.4% to 9,566

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Harikrishnan Nair and Vijay Kishore)

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