MIDEAST STOCKS-Major Gulf markets gain on signs of progress in US-Iran talks

SNB -0.15%
Tadawul All Shares Index +2.14%

SNB

1180.SA

40.84

-0.15%

Tadawul All Shares Index

TASI.SA

11007.19

+2.14%

- Major Gulf stock markets rose in early trade on Wednesday after Iran touted progress in nuclear negotiations with the United States.

Iran's foreign minister said, after talks in Geneva on Tuesday, Tehran and Washington had reached an understanding on the main "guiding principles" for resolving their longstanding nuclear dispute - easing fears of a military conflict.

Oil prices were little changed in Asian trading after dropping about 2% in the prior session, as investors stayed cautious about the chances of a final deal that could ease supply worries.

Saudi Arabia's benchmark index .TASI gained 0.2%, on course to snap a three-day losing streak, helped by a 1.1% rise in the country's biggest lender by assets Saudi National Bank 1180.SE.

Elsewhere, oil behemoth Saudi Aramco 2222.SE edged 0.2% higher.

Dubai's main share index .DFMGI advanced 0.6%, led by a 2.5% gain in blue-chip developer Emaar Properties EMAR.DU and a 3.2% leap in budget airliner Air Arabia AIRA.DU.

In Abu Dhabi, the index .FTFADGI was up 0.3%.

The Qatari index .QSI added 0.1%, with the Gulf's biggest lender Qatar National Bank QNBK.QA putting on 0.5%.


Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via