Gulf stocks close higher as Trump dials back Iran strike talk

Gulf equity markets advanced on Tuesday, November 10, after US President Donald Trump indicated that military action against Iran was not currently required. Business Recorder reported that he would pause further strikes for now following appeals from regional allies, while the naval blockade in the Strait of Hormuz remained in force. Saudi Arabia’s index climbed 0.6%, Dubai rose 1.4%, Abu Dhabi gained 0.8% and Qatar added 0.7%.

The report attributed the broader regional gains to improved investor sentiment after the latest comments on military action, alongside strong third-quarter earnings. In Saudi Arabia, Al Rajhi Bank rose 2.6%, while Saudi Aramco fell 1.9%; Dubai’s Emirates NBD gained 3.5%, and Aramex surged 7.5% after a sharp increase in quarterly profit. Investors were also monitoring negotiations over shipping disruption, as reports of intercepted missiles and drones underscored continuing security risks.