Mideast Stocks: Most Gulf markets gain on earnings and oil

The Commercial Bank (P.S.Q.C.)

23/10/2025 14:37

Updates closing prices

By Ateeq Shariff

Oct 23 (Reuters) - Most stock markets in the Gulf ended higher on Thursday, helped by corporate earnings announcements and rising oil prices.

Dubai's main share index .DFMGI gained 0.7%, led by a 2.8% rise in toll operator Salik SALIK.DU and a 1.8% increase in Emirates NBD Bank (ENBD) ENBD.DU.

ENBD, Dubai's biggest lender by assets, reported a 23% increase in third-quarter net profit to 6.4 billion dirham ($1.74 billion), beating analysts' expectations of 5.54 billion dirham, according to mean estimates compiled by LSEG.

Elsewhere, Emirates Central Cooling Systems Corporation EMPOWER.DU advanced 1.9%, a day after the firm signed a contract to construct its second district cooling plant in Jumeirah village.

Saudi Arabia's benchmark index .TASI rose 0.2%, helped by a 8.2% surge in Tourism Enterprise Company (Shams) 4170.SE. On Sunday, Shams' shareholders approved amending the company's share par value to 10 riyals per share from 0.50 riyal.

Among other gainers, Electrical Industries Company 1303.SE leapt 4.5%, following a sharp rise in quarterly net profit.

Oil prices - a catalyst for the Gulf's financial markets - rose nearly 5% after the U.S. imposed sanctions on major Russian suppliers Rosneft ROSN.MM and Lukoil LKOH.MM over the war in Ukraine, extending gains from the previous session.

In Abu Dhabi, the index .FTFADGI dropped 0.4%, weighed down by a 4.2% slide in Abu Dhabi Islamic Bank ADIB.AD, despite reporting a rise in third-quarter profit.

The Qatari index .QSI added 0.3%, with Commercial Bank COMB.QA gaining 2.7%.

Outside the Gulf, Egypt's blue-chip index .EGX30 closed 0.3% higher, snapping two sessions of losses.

The EU economy commissioner, Valdis Dombrovskis, and Egypt's Planning Minister Rania Al-Mashat presented a memorandum of understanding for a second 4 billion euro ($4.66 billion) financing, the EU said on Wednesday.

Saudi Arabia
.TASI rose 0.2% to 11,612
Abu Dhabi
.FTFADGI lost 0.4% to 10,208
Dubai
.DFMGI gained 0.7% to 6,016
Qatar
.QSI added 0.3% to 10,877
Egypt
.EGX30 up 0.3% to 37,687
Bahrain
.BAX gained 0.5% to 1,993
Oman
.MSX30 dropped 1% to 5,370
Kuwait
.BKP was up 0.1% to 9,457

($1 = 3.6729 UAE dirham)

($1 = 3.7504 riyals)

($1 = 0.8575 euros)

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Joe Bavier and Alison Williams)

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