Most Gulf equities gain on easing Iran fears after US midterms, earnings

Business Recorder reported that most Gulf markets advanced on Thursday, as investors weighed the prospect of reduced Iran-conflict risks following Republican losses in the US midterm elections. Saudi Arabia’s index and Abu Dhabi’s benchmark each rose 0.6%, while Qatar gained 1.8%; Dubai ended unchanged.

Company results shaped individual moves: Saudi National Bank rose 1.6%, while Sahara International Petrochemical fell 2.9% after reporting a larger third-quarter loss. Emaar Properties climbed 1.8% ahead of its post-market profit report, while International Holding gained 1.9% despite reporting lower quarterly net profit. In Qatar, Qatar Islamic Bank advanced 2.9%, and the emir reshuffled QatarEnergy’s board, retaining its chairman and vice chairman. Egypt’s index added 1% after news of a $125 million US-Egypt deal to support American firms.