Mideast Stocks: Most Gulf stocks firm as markets brace for pivotal week
Gains were tempered by oil prices slipping to a three-week low, pressuring sentiment in a region where oil remains a key economic driver.
Saudi Arabia's benchmark index added 0.1%, helped by a 4% jump in healthcare provider Dr Sulaiman Al Habib and a 2.2% increase in SABIC Agri-Nutrients Co after the duo reported a rise in second-quarter profit.
Elsewhere, Yanbu National Petrochemical Co gained 2.9% after the firm reported a more than two-fold sequential increase in second-quarter profit.
Qatar's stock index rose 0.3%, extending its winning streak into the new week after notching gains in all sessions last week, as it climbed to a fresh peak last seen over two and a half years ago.
Shares of index heavyweight Qatar International Islamic Bank jumped nearly 3%, as investors positioned ahead of Monday's dividend eligibility cutoff to secure an upcoming payout.
Outside the Gulf, Egypt's blue-chip index - which traded after a session's break - advanced 1.3%, hitting a fresh record high, with Commercial International Bank advancing 3.3%.
Investors across the region are also eyeing the U.S. Federal Reserve's two-day policy meeting, where rates are widely expected to remain unchanged at 4.25%–4.50%, despite renewed political pressure from Trump for cuts.
A rise in U.S. inflation to 2.7% in June has clouded expectations for a potential rate reduction in September, with market odds narrowing to nearly 50-50.
Fed policy remains closely watched in the Gulf, where most currencies are pegged to the U.S. dollar, making it a key anchor for regional monetary stability.
SAUDI ARABIA added 0.1% to 10,956
QATAR gained 0.3% to 11,249
EGYPT added 1.3% to 34,554
BAHRAIN eased 0.3% to 1,948
OMAN advanced 0.5% to 4,740
KUWAIT slipped 0.4% to 9,239
(Reporting by Amna Mariyam and Ateeq Shariff in Bengaluru Editing by Peter Graff)
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