Most Gulf stock markets declined amid a lack of tangible progress in US-Iran negotiations.

Tadawul All Shares Index

Tadawul All Shares Index

TASI.SA

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From Atiq Sharif

- Most major Gulf stock markets were little changed in early trading on Thursday, after Iran and the United States concluded a round of indirect talks with no clear signs of progress toward a permanent agreement.

Informed sources said that Iranian and American negotiators spent two days in Doha to discuss shipping in the Strait of Hormuz and the release of frozen Iranian assets, two key issues in the initial agreement.

The Qatari Foreign Ministry stated that the next round of negotiations will be held after the funeral of the late Iranian Supreme Leader Ayatollah Ali Khamenei, who will be buried on July 9.

The main index of the Saudi market declined by 0.1 percent.

Meanwhile, US President Donald Trump, speaking in Washington, said that negotiations on possible restrictions on Iran's nuclear program were making progress, the main issue that led to the war launched by the United States and Israel in February.

The main index in the Dubai market stabilized amid volatile trading.

Abu Dhabi's main index rose 0.2 percent.

The Qatari index fell 0.3 percent, weighed down by a 0.9 percent drop in shares of Qatar National Bank, the largest bank in the Gulf.