Major Gulf markets rise as investors weigh Iran-Qatar talks

Major Gulf stock markets mostly advanced on Monday as investors followed Iranian-Qatari discussions on ending the conflict involving Iran, the United States and Israel, Business Recorder reported. Saudi Arabia’s benchmark gained 0.5% to 9,883, Dubai rose 0.6% to 5,808, Abu Dhabi added 0.3% to 9,491, and Qatar increased 0.2% to 9,591. Kuwait, Bahrain and Oman declined, while Egypt’s index fell 0.7%.

The talks unfolded amid concern the conflict could intensify after the November 3 US midterm elections. President Donald Trump said the US would not attack Iran before the vote, while China’s foreign minister urged political rather than military solutions. Saudi-listed Gulf Insurance Group dropped 8.4% after quarterly net profit fell 44%, while Qatar’s Industries Qatar rose 2.9%. Separately, ADNOC and G42 agreed with OpenAI to introduce AI capabilities across the energy company’s operations.