Mideast Stocks: Most Gulf markets ease on weak oil, lacklustre earnings

Eastern

10/11/2025 13:20

Updates to closing prices

By Ateeq Shariff

Nov 10 (Reuters) - Most stock markets in the Gulf were subdued on Monday on soft oil prices and disappointing corporate earnings.

Saudi Arabia's benchmark index .TASI reversed early losses to close flat, with Al Rajhi Bank  1120.SE dropping 1.2%, while Dar Alarkan Real Estate Development Co 4300.SE jumped more than 5%, following a sharp rise in quarterly profit.

Elsewhere, Al Khaleej Training and Education Co 4290.SE plunged 10%, to be the biggest faller on the index, following a decrease in third-quarter profit.

Among other losers, budget carrier flynas  4264.SE tumbled 5.4%, after the firm posted losses for the nine-month period ending September 30, from profit a year earlier.

Crude prices - a catalyst for the Gulf's financial markets - were steady as investors assessed a potential end to the U.S. government shutdown and concerns around oversupply in the crude market.

Brent crude futures LCOc1 rose 11 cents, or 0.17%, to $63.74 a barrel by 1051 GMT.

Oil prices remain a risk for the broader market given current price levels and the bearish outlook, said Daniel Takieddine, co-founder and CEO of Sky Links Capital Group.

Dubai's main share index .DFMGI dropped 0.3%, with top lender Emirates NBD  ENBD.DU losing 2.2% and  blue-chip developer Emaar Properties EMAR.DU retreating 1.5%.

In Abu Dhabi, the index .FTFADGI was down 0.1%, pressured by a 3.6% decline in Aldar Properties ALDAR.AD.

However, Fertiglobe FERTIGLB.AD - the largest producer of nitrogen fertilisers in the Middle East and North Africa - advanced 2.1%, after the firm turned to quarterly profit.

The Qatari index .QSI added 0.4%, helped by a 0.8% increase in petrochemical maker Industries Qatar  IQCD.QA.

Outside the Gulf, Egypt's blue-chip index .EGX30 declined 1%, retreating from a record high, dragged down by a 6% slide in tobacco monopoly Eastern Company EAST.CA.

Saudi Arabia
.TASI finished flat at 11,244
Abu Dhabi
.FTFADGI dropped 0.5% to 10,020
Dubai
.DFMGI eased 0.3% to 6,008
Qatar
.QSI gained 0.4% to 11,090
Egypt
.EGX30 declined 1% to 40,416
Bahrain
.BAX added 0.1% to 2,077
Oman
.MSX30 advanced 1.6% to 5,663
Kuwait
.BKP lost 0.2% to 9,434

 (Reporting by Ateeq Shariff in Bengaluru
Editing by Conor Humphries and Gareth Jones)

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