Stock markets across the Gulf rallied sharply on Wednesday after the US and Iran agreed to a two-week halt in hostilities, with Tehran confirming it would allow vessels to pass through the Strait of Hormuz during the pause.
Dubai's DFM General Index closed 6.9% higher, led by a nearly 13% gain in Emaar Properties and a 10.6% rise in Emirates NBD. The Abu Dhabi Securities Exchange closed up 2.8%, supported by a 10% surge in Aldar Properties and gains across major banking stocks. Qatar's QE Index advanced 3.6%, while Saudi Arabia's Tadawul rose 1.58 percent.
The ceasefire, announced by US President Donald Trump, opens a two-week negotiating window in Islamabad aimed at securing a permanent diplomatic resolution. The pause eases fears of a deepening global energy crisis and supply chain disruption, with Asian equity indices and US futures also rallying sharply in response.
Gulf Economist Staff Writer