Gulf stocks posted mixed results at the close of trading on Monday.
However, most markets ended the session higher, buoyed by investor optimism regarding the resumption of negotiations between the United States and Iran.
In a move that could help ease regional tensions.
According to Reuters, Tehran received a proposal through mediators that includes a 10-day ceasefire, paving the way for a return to an interim agreement between the two sides.
This development has had a positive impact on investor sentiment in the region.
At the same time, security risks remain.
Kuwait and Bahrain reported new attacks, while the U.S. Embassy in Manama warned of the possibility of attacks on sites within the capital.
A Greek shipping company also reported that two ships were attacked off the coast of Oman, reigniting concerns about maritime security and energy supplies.
In terms of trading, the Saudi index rose 0.2%, supported by a 0.7% gain in Al Rajhi Bank shares.
The Qatari index also rose by 1.3%, while the Bahrain and Kuwait indices rose by 0.2% and 0.1%, respectively.
In contrast, the Dubai index fell by 0.3%, affected by a 1.1% decline in Emaar Properties shares and a 3.5% drop in Air Arabia shares.
The Abu Dhabi index also fell by the same percentage, while the Omani index recorded the largest losses, declining by 3.4%.
Analysts noted that corporate earnings for the second quarter will be a key factor in determining the direction of Gulf stock markets in the coming period.
Along with developments in the geopolitical landscape and oil prices. Outside the Gulf region, the Egyptian Stock Exchange’s main index rose by 1.1%, indicating continued investor interest in the region’s markets.
Read also:
