Gulf bourses mixed as fears over US strikes offset Iran-Saudi talks

Gulf exchanges closed with varied results on Tuesday as hopes for continued Iran-Saudi discussions competed with concern over renewed US strikes on Iran’s Qeshm Island. Business Recorder reported that Saudi Arabia’s index slipped 0.1%, while Qatar gained 0.2% and Dubai rose 0.1%; Abu Dhabi fell 0.3%.

Saudi Aramco shares added 0.2% after the company reported a 34.5% increase in third-quarter net profit and announced a base dividend of $21.9 billion. It cited stronger revenue and its exit from a joint venture as key contributors, while chief executive Amin Nasser said Aramco was examining additional export routes and overseas capacity. In Dubai, Emaar Properties advanced 2.4%, and Emaar Development jumped 10.7% after reports that its parent was weighing a possible acquisition worth up to $3 billion.