Gulf markets rose in early trading after Donald Trump signalled new strikes on Iran were unlikely while talks continued. Saudi Arabia's index gained 0.1%, Dubai and Abu Dhabi each rose 0.8%, and Qatar added 0.4%.
Gulf stock markets rose in early trading on Monday after Trump signalled new strikes on Iran were unlikely while talks to end the eight-month conflict continued. The gains came despite reports from both countries that shipping had been attacked in or near the Strait of Hormuz.
Saudi Arabia's benchmark index rose 0.1%, with Al Rajhi Bank gaining 0.6%; Perfect Presentation For Commercial Services surged 7.7% after a rise in quarterly profit. Dubai's index gained 0.8%, with Emaar Properties advancing 3.2%. Abu Dhabi rose 0.8%, while Qatar added 0.4%, led by a 1.8% rise in Industries Qatar.
Saudi authorities lifted an alert in Riyadh a day after a Houthi attack damaged an Aramco office building. Senior Emirati official Anwar Gargash warned the region may face a long period of instability, saying a comprehensive political deal between Washington and Tehran looked hard to achieve.
