Dubai stocks lead GCC markets despite trade war concerns
Dubai led the stock markets in the Gulf Cooperation Council (GCC) region in April 2025, driven by strong performances in the real estate and banking sectors.
Dubai's equity index gained 4.1% during the month, while other Gulf markets had a mixed performance amid trade war concerns and decline in oil prices, according to Kuwait Financial Centre (Markaz). Overall, the S&P GCC Composite index slipped by 1% in April 2025.
Among the strong performers in Dubai's banking sector, the Dubai Islamic Bank (DIB) posted a 5.4% gain as its net profit went up by 8% year-on-year in Q1 2025, supported by quality earning assets growth.
Qatar's equity markets ended the month with a 2.2% growth, followed by Abu Dhabi with a 1.8% gain. Abu Dhabi's index for the month was also propped up by bluechips, including First Abu Dhabi Bank, which gained 8.7% on the back of major restructuring.
Kuwait and Saudi Arabia indices posted declines of 1.4% and 2.9%, respectively.
The decline in Kuwait's equity market was due to concerns over the impact of trade tensions on economic outlook and oil prices, although consumer staples and real estate emerged as top performers, raising by 6.3% and 4.9%, respectively.
In Saudi Arabia, ACWA Power and Saudi Aramco slipped by 6.2% and 5.2%, respectively, while Saudi Telecom was up 5% on the back of an 11% year-on-year growth in net profit for Q1 2025.
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