Most Gulf stock markets rose ahead of company earnings announcements.
ALRAJHI 1120.SA | 0.00 | |
SNB 1180.SA | 0.00 | |
Tadawul All Shares Index TASI.SA | 0.00 |
July 6 (Reuters) - Major Gulf stock markets edged higher in early trading on Monday, as investors turned their attention to corporate earnings while also assessing developments between the United States and Iran.
There are no indications that the two sides made progress toward a permanent end to the war during the indirect talks that ended on Wednesday. Instead, the discussions focused on issues they said had already been settled under an interim agreement announced two weeks earlier.
The Qatari Foreign Ministry said the next meeting will be held after the funeral ceremonies for the late Iranian Supreme Leader Ayatollah Ali Khamenei, who is scheduled to be buried on July 9.
The Saudi index rose 0.2 percent, with Al Rajhi Bank shares climbing 0.5 percent and shares of the National Bank of Saudi Arabia, the kingdom’s largest bank by assets, increasing by 0.4 percent.
A survey published on Sunday showed that the Kingdom's non-oil private sector recorded stronger growth in June, supported by the fastest growth in new business volume in four months, but companies still face severe cost pressures and a decline in demand from abroad.
Dubai's index rose 0.1 percent, with Emirates NBD shares climbing 0.3 percent.
The Abu Dhabi index rose 0.3 percent, supported by a 0.2 percent increase in shares of Alpha Abu Dhabi Holding.
The Qatari index stabilized amid volatile trading, with shares of Qatar Gas Transport Company (Nakilat) rising 0.8 percent.
State media quoted the Iranian trade attaché in Doha as saying on Sunday that maritime trade between Iran and Qatar had resumed after a suspension of about five months.
