Gulf markets climb as Trump delays Iran strike
Reports indicated that most Gulf stock exchanges closed higher, with Dubai Stock Exchange leading the gains, recording its largest daily increase since June 18th at 1.4%. This surge followed US President Donald Trump's announcement of a temporary suspension of a potential military strike against Iran, which boosted hopes for reaching an agreement and opening the Strait of Hormuz. However, Iran confirmed that there are currently no negotiations with the United States, contradicting Trump's statements. Additionally, Gulf equities received support from bank earnings, stable oil prices, and expectations of easing measures in US monetary policy. There was also an improvement in the performance of the Saudi market and a rise in stocks linked to oil and development companies.
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