Mideast Stocks: Most Gulf markets gain as traders gauge prospects for US-Iran deal
14/04/2026 14:12
Adds closing prices, analyst comment By Ateeq Shariff April 14 (Reuters) - Most Gulf stock markets rose on Tuesday after Washington said it was still engaging with Tehran to try to end their war, even as the U.S. blocked shipping traffic to and from Iran's ports following the collapse of peace talks at the weekend. Sources told Reuters that both sides had maintained an openness to dialogue, while a U.S. official said there had been progress towards an agreement. Negotiating teams could return to Islamabad this week, four sources said on Tuesday. Dubai's main share index .DFMGI advanced 0.9%, underpinned by a 2.6% rise in blue-chip developer Emaar Properties EMAR.DU and a 3.3% increase in toll operator Salik SALIK.DU. In Abu Dhabi, the index .FTFADGI gained 0.6%, with Aldar Properties ALDAR.AD up 3.7%. Gulf stocks were buoyed by hopes of a diplomatic breakthrough, although investors remained alert to the continued closure of the Strait of Hormuz, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group. Oil prices eased slightly but stayed elevated as disruption to traffic through the key shipping lane persisted, Takieddine noted. Saudi Arabia's benchmark index .TASI added 0.5%, supported by a 0.6% rise in Al Rajhi Bank 1120.SE. However, oil major Saudi Aramco 2222.SE fell 0.9%. Brent crude futures LCOc1 were down $1.52, or 1.5%, to $98.25 a barrel at 1235 GMT. Takieddine said investors were looking to upcoming earnings for signs of corporate resilience that could lend fresh support to the recovery. The Qatari index .QSI was up 0.6%, buoyed by a 0.9% gain in the Gulf's biggest lender Qatar National Bank QNBE.CA. Outside the Gulf, Egypt's blue-chip index .EGX30 - which traded after a two-session break - jumped 1.8%, with Commercial International Bank COMI.CA gaining 3.5%.
| Saudi Arabia | .TASI rose 0.5% to 11,486 |
| Abu Dhabi | .FTFADGI added 0.6% to 9840 |
| Dubai | .DFMGI gained 0.9% to 5,720 |
| Qatar | .QSI was up 0.6% to 10,691 |
| Egypt | .EGX30 leapt 1.8% to 49,979 |
| Bahrain | .BAX was flat at 1,910 |
| Oman | .MSx30 climbed 0.4% to 8,244 |
| Kuwait | .BKP inched up 0.1% to 9,307 |
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