Mideast Stocks: Gulf Bourses Mixed on Iran–US Standoff, While Saudi Gains

Gulf stock markets ended mixed on Sunday after US President Donald Trump rejected an Iranian peace blueprint aimed at ending hostilities and reopening the vital Strait of Hormuz.

While Tehran maintained that diplomacy remains the only viable resolution to its conflict with the United States and Israel, Iran's military leadership warned that its armed forces stand fully prepared for any renewed American strikes.

Saudi Arabia's benchmark index <.TASI> bucked the broader unease to advance 0.8%, buoyed by strong financial sector performance. Heavyweight lenders anchored the gains.

Al Rajhi Bank <1120.SE> rose 2.5% and Saudi National Bank <1180.SE> climbed 2.3%, despite weekend reports that the Saudi-led coalition had intercepted ballistic missiles and drones launched toward the kingdom by Yemen's Iran-backed Houthis.

Elsewhere, Qatar's index <.QSI> slipped 0.3%, weighed down by a 1% retreat in telecom operator Ooredoo <ORDS.QA>.

Outside the Gulf, Egypt's blue-chip index <.EGX30> slid 1.4%, pressured primarily by a 3.7% fall in tobacco monopoly Eastern Company <EAST.CA>.

Saudi Arabia <.TASI> rose 0.8% to 10,682

Qatar <.QSI> fell 0.3% to 9,454

Egypt <.EGX30> dropped 1.4% to 53,032

Bahrain <.BAX> added 0.1% to 1,906

Oman <.MSX30> lost 0.1% to 7,544

Kuwait <.BKP> increased 0.1% to 9,236