Commodities
Mideast Markets End Mixed Amid US Pressure and Oil Price Slump
Mideast stock markets ended mixed yesterday as investors reacted to fresh US economic pressure on Iran and signs of progress in Pakistan-mediated talks with Tehran.
The Brent crude price, a key indicator for Gulf financial markets, fell more than 2% on hopes that the Strait of Hormuz could reopen.
In Saudi Arabia, the benchmark index rose 0.3%, with Etihad Etisalat Company gaining 3.1% and Saudi Arabian Mining Company adding 1.3%. However, oil giant Saudi Aramco fell 0.7% and National Shipping Company of Saudi Arabia lost 2.3%.
Dubai's main index gained 0.6%, led by communications and industrial shares, while Abu Dhabi's benchmark declined 0.3% due to a 1.5% fall in Adnoc Gas and a 1% drop in conglomerate International Holding Company.