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MIDEAST STOCKS-Most Gulf markets extend gains on US tariff relief

ReutersApr 13, 2025 1:22 PM

By Ateeq Shariff

- Most Gulf stock markets ended higher on Sunday, extending gains from the previous session after temporary U.S. tariff relief boosted sentiment, though global trade uncertainty remains a concern.

In a stunning reversal, U.S. President Donald Trump on Wednesday announced a temporary lowering of hefty duties he had imposed on dozens of countries.

Saudi Arabia's benchmark index .TASI gained 0.8%, helped by a 3.9% rise in Riyad Bank 1010.SE and a 0.4% increase in Al Rajhi Bank 1120.SE.

The Qatari index .QSI added 0.2%, with petrochemicals and commodities-focused conglomerate Industries Qatar IQCD.QA closing with a gain of 0.7%.

Outside of the Gulf, Egypt's blue-chip index .EGX30 advanced 1.2%. Almost all constituents were in positive territory, including a 3.9% jump for tobacco monopoly Eastern Company EAST.CA.

SAUDI ARABIA

.TASI rose 0.8% to 11,593

QATAR

.QSI was up 0.2% to 10,118

EGYPT

.EGX30 gained 1.2% to 31,175

BAHRAIN

.BAX finished flat at 1,902

OMAN

.MSX30 added 0.1% to 4,276

KUWAIT

.BKP lost 0.2% to 8,361

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