Most Gulf stock markets closed higher as Trump’s pause on strikes against Iran boosts risk appetite

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智通财经2026/08/03 13:41

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Most Gulf stock markets closed higher on Monday, with the Dubai index leading the region with a 1.4% gain, marking its biggest single-day rise since June 18. Heavyweight Emirates NBD surged by 3.3%, while Dubai Islamic Bank closed up 2.9%. Investors reacted positively to Trump’s pause on potential strikes against Iran and his signaling of willingness to negotiate, even though Iran denied direct contact with the United States.
The Abu Dhabi index edged up 0.3%, with Alpha Dhabi Holding soaring 9.2% due to a sharp increase in first-half profits, becoming the main driver. Saudi Arabia’s benchmark index rebounded to close up 1.1%, as oil giant Saudi Aramco rose 2%, and Jabal Omar Development jumped 8.5% after reporting solid second-quarter results the previous day.
Analysts pointed out that Gulf stock markets are being supported by resilient bank profits, strong non-oil growth, healthy oil prices, and expectations of a looser US monetary policy. However, it is still too early to assert that a sustained bull market has begun. Whether the rally continues will depend on ongoing foreign capital inflows, solid earnings, increased trading volumes, and geopolitical stability; otherwise, the rebound could be short-lived.
On the shipping front, two Saudi oil tankers passed through the Bab-el-Mandeb strait over the weekend, while traffic through the Strait of Hormuz remained slow due to reports of ship attacks. Brent crude plummeted more than 5% amid expectations of easing diplomatic tensions, but the fading of geopolitical risk premiums is a net positive for equities in the short term. The Qatar index closed up 0.8%, with Qatar National Bank rising 1.5%; Egypt’s blue-chip index slipped 0.4%.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Most Gulf stock markets closed higher as Trump’s pause on strikes against Iran boosts risk appetite

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