Gulf Stock Markets Close Higher Amid Earnings and Trade Optimism

Most stock markets in the Gulf region experienced gains on Monday, buoyed by anticipation surrounding corporate earnings reports and emerging optimism that the peak of tariff-related challenges may be receding, despite lingering uncertainties regarding U.S. trade strategy.

Over the weekend, U.S. Treasury Secretary Scott Bessent refrained from confirming President Donald Trump’s claims about ongoing tariff negotiations with China, adding that he was unsure whether the U.S. president had engaged in discussions with Chinese President Xi Jinping. Previously, Beijing had refuted the existence of any active talks.

Saudi Arabia’s benchmark index saw a rise of 0.2%, primarily driven by a significant 9.8% surge in Umm Al Qura For Development and Construction.

George Pavel, General Manager at Naga.com Middle East, noted that the Saudi market possesses the potential for further advancement, contingent upon the sustained strength of forthcoming earnings releases.

“However, critical risks related to trade developments and fluctuations in oil prices will remain key factors influencing market sentiment.”
Dubai’s main share index increased by 1%, propelled by a 1.5% gain in blue-chip developer Emaar Properties.

Abu Dhabi and Qatar See Gains

In Abu Dhabi, the index concluded 0.8% higher, with Multiply Group ascending by 3.3% as the investment firm prepares to announce its first-quarter results.

Additionally, First Abu Dhabi Bank, the UAE’s largest lender, saw a rise of 1.4% in anticipation of its earnings announcement.

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

Oil prices, a key driver for the Gulf’s financial markets, remained stable as investors assessed uncertainties surrounding trade negotiations between the U.S. and China. These uncertainties have clouded the outlook for global growth and fuel demand, along with considerations of a potential supply increase by OPEC+.

Egypt’s Blue-Chip Index Also Rises

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