Gulf markets showed mixed performance amid uncertainty surrounding US-Iranian negotiations.
Tadawul All Shares Index TASI.SA | 0.00 |
June 2 (Reuters) - Major Gulf stock markets showed mixed performance in early trading on Tuesday, as investors remained cautious due to uncertainty surrounding peace talks between the United States and Iran.
US President Donald Trump said on Monday that negotiations with Iran were still ongoing, despite an earlier report by Iran’s Tasnim news agency that Tehran had suspended indirect talks with Washington.
Trump also stated on Monday that he had contacted, through intermediaries, the Iranian-backed Lebanese group Hezbollah and received assurances that the group would not launch an attack on Israel.
Saudi Arabia’s main index fell 0.1 percent, weighed down by a 0.9 percent drop in shares of oil giant Saudi Aramco.
Brent crude futures fell 53 cents, or 0.56 percent, to $94.45 a barrel by 0649 GMT.
Dubai's main index fell 0.4 percent, pressured by a 1.3 percent drop in shares of Emirates NBD bank.
In an interview with CNBC, Trump said ending the talks was not on his mind. But he later said in a social media post that discussions were ongoing. He told ABC News that he expected an agreement within days.
In Abu Dhabi, the main index stabilized amid volatile trading.
The Qatari index rose 0.3 percent, with shares of Qatar National Bank, the largest bank in the Gulf, climbing 0.5 percent.
