Mideast Stocks: Most Gulf markets gain as investors weigh prospects for US-Iran talks

XTB

04/08/2026 14:06

Updates with closing prices, analyst comment
By Ateeq Shariff
Aug 4 (Reuters) - Most Gulf stock markets ended higher on Tuesday as investors assessed possible U.S.-Iran talks, while strong corporate earnings provided additional support.
Markets across the region had rallied in the previous session after U.S. President Donald Trump said on Sunday he was postponing further strikes on Iran as talks continued on ending their conflict and resolving issues surrounding the strategic Strait of Hormuz.
U.S. Treasury Secretary Bessent said on Tuesday that an agreement to reopen the strait could be reached as early as Tuesday or Wednesday. 
Saudi Arabia's benchmark index .TASI rose 0.4%, with the country's biggest lender Saudi National Bank 1180.SE rising 2.2%.
However, oil major Saudi Aramco 2222.SE gave up early gains to finish 0.4% lower, despite reporting a 44% increase in second-quarter net profit.
The world's top oil exporter posted net profit of $32.69 billion in the three months ended June 30, compared with $22.67 billion a year earlier.
Front-month Brent futures <LCOc1> were down $3.11, or 3.71%, to $80.66 a barrel at 1159 GMT, after hitting a session high of $86.33. O/R
Dubai's main share index .DFMGI advanced 1.8%, its biggest one-day gain since June 18, with blue-chip developer Emaar Properties EMAR.DU jumping 6.5%.
In Abu Dhabi, the index .FTFADGI gained 1.6%, with Abu Dhabi Islamic Bank  ADIB.AD climbing 7.2%.
Optimism about a possible return to diplomacy helped support market sentiment, though conflicting messages from the U.S. and Iran, along with renewed threats from Trump, could keep investors cautious, said Milad Azar, market analyst at XTB MENA, adding attention was also on domestic fundamentals, including second-quarter corporate results and economic survey data.
The Qatari index .QSI fell 0.4%, with the Gulf's biggest lender, Qatar National Bank  QNBK.QA, down 0.2%.
Outside the Gulf, Egypt's blue-chip index .EGX30 closed 0.8% higher.
Business sentiment in Egypt's non-oil private sector picked up in July, despite operating conditions remaining firmly in contraction territory, a survey showed.
     
Saudi Arabia
.TASI rose 0.3% to 10,858
Abu Dhabi
.FTFADGI advanced 1.6% to 10,102
Dubai
.DFMGI gained 1.8% to 5,986
Qatar
.QSI eased 0.4% to 10,093
Egypt
.EGX30 added 0.8% to 54,502
Bahrain
.BAX was flat at 1,956
Oman
.MSX30 lost 0.2% to 7,335
Kuwait
.BKP down 0.2% to 9,295
     

 (Reporting by Ateeq Shariff in Bengaluru. Editing by David Holmes and Mark Potter)
 ((AteeqUr.Shariff@thomsonreuters.com; +918061822788))