Mideast Stocks: Most Gulf bourses gain despite stalled Iran talks, Hormuz disruption

Telecom Egypt SAE

16/08/2026 14:10

By Ateeq Shariff
Aug 16 (Reuters) - Most Gulf stock markets rose on Sunday despite ongoing regional uncertainty, with peace talks showing no signs of progress and oil tanker traffic through the strategic Strait of Hormuz yet to fully resume.
Iran urged the United States on Saturday to concede defeat, while President Donald Trump branded Tehran "very evil" and warned Americans to expect persistently high fuel prices because of the war.
Saudi Arabia's benchmark index .TASI advanced 0.9%, led by a 1.5% rise in Al Rajhi Bank  1120.SE and a 1% increase in oil major Saudi Aramco 2222.SE.
On Friday, Brent futures LCOc1 settled at $88.52 a barrel, up $1.45, or 1.67%.
Elsewhere, Tihama for Advertising, Public Relations and Marketing Co 4070.SE rose 7.3% after its board terminated Chief Executive Hussain Masoud Al-Dossari's contract. The company named Shakir Ahmed Saleh Al-Saleh as the new CEO.
In Qatar, the index .QSI added 0.2%, helped by a 1.5% rise in the Gulf's biggest lender Qatar National Bank  QNBK.QA.
Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1.1%, with Telecom Egypt  ETEL.CA increasing 3.6%, extending gains from the previous session following a steep rise in quarterly profit.
     
Saudi Arabia
.TASI rose 0.9% to 10,920
Qatar
.QSI added 0.2% to 10,045
Egypt
.EGX30 gained 1.1% to 55,855
Bahrain
.BAX eased 0.1% to 1,952
Oman
.MSX30 was up 0.3% to 7,535
Kuwait
.BKP was flat at 9,295
     

(Reporting by Ateeq Shariff in Bengaluru; Editing by Alexander Smith)
((AteeqUr.Shariff@thomsonreuters.com; +918061822788))