Most Gulf stock exchanges decline, while the Qatari index bucks the trend

Tehran has repeatedly vowed to respond to any new attacks by targeting American and Israeli interests in neighboring countries.

The main Saudi index fell 0.8%, with almost all traded stocks declining.

Shares of the Saudi Arabian Mining Company (Ma'aden) fell 2.6%, and Jabal Omar Development shares lost 7.3% after the real estate developer announced a net loss of 261.61 million riyals ($69.76 million) in the third quarter, compared to a net profit of 197.85 million riyals a year ago.

In contrast, shares of Elm, which provides information technology solutions, jumped 9% after announcing a 39% increase in its quarterly net profit.

The main Qatari index rose 4.6%, recovering from the previous session's losses to record its largest daily percentage gain in more than 8 years.

Investor sentiment in Qatar was supported by QatarEnergy’s efforts to secure long-term supplies of liquefied natural gas from the United States and other producers, as part of a commercial strategy aimed at protecting revenues in the event of export disruptions through the Strait of Hormuz.

Standard & Poor's affirmed Qatar's sovereign rating at AA/A-1+ with a stable outlook, noting the country's large reserves of liquid, financial, and external assets in light of regional security and trade risks.

Shares of Qatar National Bank, the region's largest lender, rose 3%. Shares of Industries Qatar, which is linked to QatarEnergy, jumped 7.9%.

The main index in Bahrain ended trading down 0.6%.

The main index in Oman closed down 0.7%. The main index in Kuwait lost 0.8%.

Outside the Gulf region, the Egyptian Exchange (EGX 30) index fell 1.7%, with almost all traded stocks declining.

Shares of the Commercial International Bank (CIB) fell 2.1%, and shares of Talaat Moustafa Group lost 1.1%.

The Central Bank of Egypt raised key interest rates by 100 basis points on Thursday, in the first increase approved by the bank since March 2024.