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Source:
Sky News
Abu Dhabi and Dubai Drive Gulf Gains
The Gulf markets saw an increase in stock indices following the resumption of trading after the Islamic New Year holiday. The Dubai Stock Exchange index rose by 2%, supported by gains in real estate development and banking stocks. Meanwhile, the Abu Dhabi index increased by 1.2% with gains in banking and real estate shares. The Qatar and Saudi Arabia indices each rose by 0.2% and 0.6%, respectively. This comes amid market assessments of the possibility of restoring oil supplies through the Strait of Hormuz after a preliminary agreement between the United States and Iran.
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