Mideast Stocks: Most Gulf stocks rise as US-Iran talks ease tensions; earnings support

Telecom Egypt SAE

09/02/2026 13:07

Updates with closing prices

By Md Manzer Hussain

BENGALURU, Feb 9 (Reuters) - Most major Gulf equities edged higher on Monday after worries about a potential U.S.-Iran confrontation eased, while upbeat corporate earnings added to investor optimism.

Iran and the U.S. pledged to continue their talks, following what both sides described as positive discussions. That eased the concern that a failure to reach a deal might nudge the Middle East closer to war, as the U.S. has positioned more military forces in the area.

Dubai's benchmark stock index .DFMGI extended its rally to a sixth straight session and rose 1.3% to 6,774, a fresh record high since 2006. Emaar Properties EMAR.DU gained 2.8%, while Dubai Investments  DINV.DU climbed 4.3%.

"Dubai is currently benefiting from a perfect mix of high liquidity and sector-specific booms," said Samer Hasn, senior market analyst at XS.com.
The Abu Dhabi benchmark index .FTFADGI advanced 0.6%, led by consumer discretionary, consumer staples and real estate.

Aldar Properties ALDAR.AD jumped 5.2% to 10.86 dirhams per share, its highest level in over 17 years. The blue-chip developer reported a 49% increase in fourth-quarter net profit and proposed a full-year cash dividend of 0.205 dirham per share, an increase of 10.8%.

Americana Restaurants International AMR.AD surged 14.7%, the sharpest daily percentage jump since listing in 2022. The dual-listed operator posted a 38% rise in full-year net profit. On Sunday, it signed an agreement with a Lebanese quick-service restaurant brand Malak Al Tawouk (MAT), to operate and develop MAT in 13 markets.

The Qatari benchmark index .QSI closed 0.8% higher with all of its constituents posting gains. Qatar Navigation added 3.2%, and United Development Co UDCD.QA rose 3.9% after reporting higher full-year net profit.

Saudi Arabia's benchmark stock index .TASI eased 0.2% with Saudi National Bank  1180.SE falling 1.6% and Saudi Arabian Mining Company  1211.SE shedding 0.9%.

Outside the Gulf, Egypt's blue-chip index .EGX30 inched up 0.5%, supported by a 2.7% jump in Eastern Company EAST.CA and a 2.4% gain in Telecom Egypt ETEL.CA.

Meanwhile, Egypt has signed a record $3.5 billion agreement to allocate 410 megahertz of new spectrum to its four mobile operators including Telecom Egypt, the cabinet said in a statement on Saturday.

SAUDI ARABIA
.TASI down 0.2% to 11,195
KUWAIT
.BKP lost 0.2% to 9,312
QATAR
.QSI rose 0.8% to 11,502
EGYPT
.EGX30 up 0.5% to 50,294
BAHRAIN
.BAX lost 0.2% to 20,56
OMAN
.MSX30 gained 3% to 6,761
ABU DHABI
.FTFADGI up 0.6% to10,629
DUBAI
.DFMGI rose 1.3% to 6,774

 (Reporting by Md Manzer Hussain; Editing by Harikrishnan Nair)

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