Gulf markets rise as investors assess Iran war, shipping risks

Gulf stock markets mostly advanced on Wednesday as traders balanced hopes of a pause in the US-Israeli conflict with concern over maritime security near the Strait of Hormuz, Business Recorder reported. Saudi Arabia’s benchmark recovered from an early dip to finish 1.4% higher at 10,308, while Dubai added 0.8% to 6,221 and Abu Dhabi rose 0.3% to 9,585.

Recent attacks on tankers and energy infrastructure kept investors cautious about the risk of renewed escalation and disruption to energy transport. Qatar’s index lost 0.5% to 10,124, while Oman gained 1.3% to 7,374; Bahrain was unchanged at 1,824, and Kuwait advanced 0.3% to 9,003. Egypt’s blue-chip index ended flat at 52,500, with Eastern Company rising 4.2% after reporting a sharp increase in third-quarter profit.