Mideast stocks-Gulf stocks rise with oil as US-Iran fighting picks up
XLE•Qatar and Saudi indices gain
Qatar's benchmark .QSI gained 0.6%, with most sectors advancing. Qatar Fuel Company QFLS.QA climbed 4.6%, while Qatar National Bank QNBK.QA, the region's largest lender, added 1.1%.
Saudi Arabia's benchmark index .TASI rose 0.3%, led by healthcare, materials and energy stocks. Rabigh Refining and Petrochemical 2380.SE surged 4.7%, while oil giant Saudi Aramco 2222.SE gained 0.7%.
Saudi Arabia is expected to raise the official selling prices for crude bound for Asia in October, a Reuters survey showed, after Middle East spot crude markets strengthened on tighter supply and firm demand.
Abu Dhabi and Dubai trade mixed
Abu Dhabi's benchmark index .FTFADGI fell 0.3%, with most sectors in negative territory. First Abu Dhabi Bank FAB.AD, the UAE's largest lender, dropped 1.7%, while conglomerate International Holding Company IHC.AD declined 0.5%.
Dubai's main index .DFMGI was little changed, as losses in communication, consumer staples and utilities offset gains elsewhere. Emirates Integrated Telecommunications DU.DU fell 3.5%, while blue-chip developer Emaar Properties EMAR.DU rose 1.3%.
US-Iran tensions weigh on sentiment
U.S. President Donald Trump threatened further strikes against Iran on Monday following the first direct exchange of attacks in a month, escalating tensions in a conflict that had recently shifted into an economic standoff.
Iran will immediately reciprocate if the U.S. returns to its commitments under an interim deal signed in June, President Masoud Pezeshkian said on Tuesday, speaking at the Shanghai Cooperation Organisation Summit in Bishkek.
