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Qatar Tribune
22-06-2025
- Business
- Qatar Tribune
Most Gulf marketstrade up despite US strikes on Iran
TNN & Agencies Doha Most stock markets across the Gulf region traded higher on Sunday, showing remarkable resilience despite heightened geopolitical tensions following US airstrikes on Iran's key nuclear facilities. Investors appeared to be assessing the broader economic impact of the conflict, rather than reacting with panic, as trading sentiment remained largely stable. Late Saturday, US forces carried out coordinated strikes on three of Iran's primary nuclear sites. The escalation came with a stern warning from President Donald Trump, who stated that Iran would face 'more devastating attacks' if it failed to pursue peace. Despite the gravity of the military action, markets across the Gulf appeared relatively unfazed. The Qatar Stock Exchange (QSE) index gained 19.06 points, or 0.19 percent, closing at 10,280.20 points. Trading activity remained robust, with over 192 million shares exchanged at a total value of QR357.64 million through nearly 15,000 transactions spanning all sectors. Investor sentiment was broadly positive on the QSE, with shares of 38 companies closing in the green, while only nine declined and five remained unchanged. The day's performance also led to a rise in market capitalisation, which climbed to QR606.80 billion from QR605.41 billion in the previous session. In Saudi Arabia, the region's largest bourse also showed resilience. The benchmark Tadawul All Share Index (TASI) edged up 0.4 percent by 09:15 GMT, led by a 0.7 percent gain in shares of Saudi National Bank, the country's largest lender. Michael Brown, Senior Research Strategist at Pepperstone, commented on the market's reaction, saying, 'It is admittedly a bit surprising to see regional equities shrugging off the US strikes on Iran with relative ease, with opening losses having pared relatively rapidly.' He noted that markets had already priced in the possibility of a US strike, and there was a growing investor expectation of a swift diplomatic resolution. Despite the calm market reaction, underlying concerns remain. Bahrain and Kuwait—both hosts to key US military bases—took precautionary measures on Sunday. Bahrain advised motorists to avoid main roads, while Kuwait announced the establishment of shelters at government ministry complexes in preparation for any potential escalation. Still, investor confidence held, with Kuwait's Premier Index reversing early declines to post a 0.3 percent gain by mid-morning. Bahrain's main index was flat, while Oman's MSX30 rose by 0.5 percent, reflecting cautious optimism. Outside the Gulf, Egypt's EGX30 benchmark index surged 1.7 percent, buoyed by strong investor sentiment. Meanwhile, Tel Aviv's main stock index advanced by around 1 percent, reaching an all-time high despite the broader regional uncertainty. While markets have so far taken the latest geopolitical developments in stride, analysts warn that the situation remains fluid. Investors will closely monitor diplomatic developments in the coming days, particularly any response from Tehran or efforts by international actors to de-escalate tensions. As it stands, regional stock markets are demonstrating a surprising degree of calm and resilience, signaling investor confidence in the Gulf economies' ability to absorb geopolitical shocks—at least in the short term.
Qatar Tribune
17-06-2025
- Business
- Qatar Tribune
Gulf markets rebound amid Israel-Iran conflict
TNN & Agencies Doha Stock markets in the Gulf ended higher on Monday, recovering some of their losses from previous sessions when they were jolted by the escalating conflict between Israel and Iran. The Qatar Stock Exchange (QSE) general index closed Monday's trading higher by 177.880 points, or 1.73 percent, a day after falling more than 3 percent to close at 10,464.800 points. During the session, 239,968,300 shares, valued at QR566,446 million were traded in 32,908 transactions across all sectors. Shares of 46 companies rose and four companies saw a decline in their share price, while three others maintained their previous closing price. Market capitalisation at the end of the trading session amounted to QR616.497 billion compared to QR604.495 billion in the previous session. Saudi Arabia's benchmark index advanced 1.3 percent, led by a 1.5 percent rise in Al Rajhi Bank and a 6.9 percent jump in ACWA Power Company. The upward trend mirrored similar movements in both Asian and European markets, where a temporary improvement in sentiment was bolstering investor appetite, said Osama Al Saifi, Managing Director for MENA at Traze. 'This optimism was partly fuelled by positive economic data from China, which showed an acceleration in retail sales despite US tariffs,'he said. Dubai's main share index added 0.8 percent, with utility firm Dubai Electricity and Water Authority rising 2.2 percent. In Abu Dhabi, the index closed 0.2 percent higher. Outside the Gulf, Egypt's blue-chip index inched 0.1 percent higher, helped by a 1.4 percent rise in Commercial International Bank. On Sunday, the index fell 4.6 percent marking its biggest intraday fall in about 14 months.
