Gulf markets close mixed as investors assess U.S.-Iran diplomacy
BENGALURU: Gulf stock markets closed mixed on Thursday while investors assessed renewed diplomatic efforts between the United States and Iran and progress in talks over the Strait of Hormuz. Qatar’s prime minister visited Tehran on Thursday in a bid to revive diplomacy after the United States and Iran exchanged recriminations over Washington’s plans to step up economic pressure on Tehran, a move…
Gulf stock markets closed mixed on Thursday as investors assessed the latest diplomatic efforts between the United States and Iran, as well as progress in talks over the Strait of Hormuz. Qatar's prime minister visited Tehran in an attempt to revive diplomatic relations, following a tense exchange between the two countries over Washington's plans to increase economic pressure on Tehran.
Qatar and Iran discussed a proposed phased framework that includes establishing a temporary Iranian-Omani shipping corridor through the strait and launching a joint project to clear mines from the waterway. Qatar's main index rose 0.3%, with most sectors ending in positive territory, while Dubai's main index added 0.3%. Saudi Arabia's benchmark index, however, slipped 0.2%, ending a seven-session winning streak.
The markets' performance is largely influenced by geopolitical developments and investors' sensitivity to the implications for oil prices, the energy sector, and regional logistics.
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