Gulf Stock Markets Close Higher Amid Earnings Anticipation and Trade Sentiment

On Monday, the majority of stock markets in the Gulf region experienced gains as investors looked forward to corporate earnings reports and held onto some optimism that the peak of tariff-related challenges might be behind them. However, uncertainty surrounding U.S. trade policy persisted.

Over the weekend, U.S. Treasury Secretary Scott Bessent’s remarks contrasted with President Donald Trump’s claims regarding ongoing tariff discussions with China. Bessent stated he was unsure if the U.S. president had engaged in conversation with Chinese President Xi Jinping. Previously, Beijing had refuted the existence of any such talks.

Saudi Arabia’s benchmark index saw a 0.2% increase, bolstered by a significant 9.8% surge in Umm Al Qura For Development and Construction shares.

George Pavel, the general manager at Naga.com Middle East, noted that the Saudi market has the potential for further gains, contingent on the strength of forthcoming earnings reports.

Factors Influencing Market Sentiment
  • Trade development risks
  • Oil price volatility

Dubai’s primary share index rose by 1%, propelled by a 1.5% increase in blue-chip developer Emaar Properties.

In Abu Dhabi, the index concluded 0.8% higher, with Multiply Group shares climbing 3.3% as the investment firm prepares to release its first-quarter financial results.

First Abu Dhabi Bank, the UAE’s largest lender, saw its shares increase by 1.4% in anticipation of its earnings announcement.

The Qatari index experienced a 0.3% rise, with Qatar National Bank, the Gulf’s largest lender, increasing by 0.8%.

Oil prices, a key driver for the Gulf’s financial markets, remained stable as investors assessed the ambiguity surrounding trade negotiations between the U.S. and China. This situation has clouded the outlook for global economic growth and fuel demand, as well as the possibility of OPEC+ increasing supply.

Outside the Gulf region, Egypt’s blue-chip index increased by 0.5%, with Commercial International Bank shares rising by 0.7%.