Most Gulf markets declined amid uncertainty surrounding the Doha talks between Iran and the United States.
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June 30 (Reuters) - Most Gulf stock markets ended lower on Tuesday amid doubts about progress in talks between the United States and Iran in Doha to end the four-month-old war.
A Qatari official stated that US envoys will not hold a high-level meeting in Doha with Iran, noting that technical talks will be held this week on issues including regional security, which may be upgraded to a higher level.
Iran said on Monday that no meetings were planned, following an exchange of missile fire over the weekend that tested a temporary ceasefire. Tehran confirmed that its technical delegation's visit to Qatar was unrelated to the Americans' visit, indicating that no talks had been arranged.
The index in Saudi Arabia rose slightly by 0.1 percent, supported by a 2.8 percent increase in shares of ACWA Power.
Dubai's stock index fell 0.6 percent, weighed down by a 1.8 percent drop in Emirates NBD shares following reports that the bank is considering acquiring HSBC's branch in Türkiye.
Daniel Takieddine, co-founder and CEO of Skylinks Capital Group, said that Emirates NBD's stock may remain under pressure in the near term as investors assess capital, merger and execution risks associated with another potential large overseas deal shortly after its bid to acquire a 26 percent stake in India's RBL Bank.
He added that establishing a broader foothold in Türkiye and South Asia in the long term could help diversify earnings, reduce reliance on the domestic market, and enhance the bank's long-term growth prospects.
In Abu Dhabi, the index fell 0.4 percent.
The Qatari index fell 0.1 percent, amid a 2.2 percent decline in shares of Qatar National Bank (QNB), the region's largest lender.
The index in Bahrain rose 0.1 percent, the Omani index climbed 0.6 percent, while the index in Kuwait fell 0.5 percent.
Outside the Gulf region, Egypt's blue-chip index advanced 1.3 percent, thanks to gains in most of the stocks listed on it.
The International Monetary Fund announced on Monday that it had reached a staff-level agreement with Egypt on two reviews of the economic program, which could unlock about $1.6 billion in financing, subject to approval by the Fund's Executive Board.
