Most Gulf markets gain on oil, earnings and US-China trade deal hopes

About this update from Qatar Islamic Bank

Most stock markets in the Gulf ended higher on Thursday, driven by higher oil prices, corporate earnings announcements and renewed optimism about a potential U.S.-China trade agreement.U.S. Treasury Secretary Scott Bessent said on Wednesday that the high tariffs between the U.S. and China are unsustainable, and must be reduced before trade negotiations can proceed. But he said President Donald Trump would not unilaterally cut tariffs on Chinese imports.Meanwhile, Trump is planning to spare carmakers from some tariffs following intense lobbying by industry executives over recent weeks, a Financial Times report said.Saudi Arabia's benchmark index TADAWUL:TASI gained 0.7%, led by a 5.7% jump in Saudi Arabian Mining Company TADAWUL:1211; Al Rajhi Bank TADAWUL:1120 was up 0.8%.First-quarter earnings are expected to remain a key focus for investors in the coming weeks, while the recovery in oil prices also supported market sentiment, said Joseph Dahrieh, Managing Principal at Tickmill.In Abu Dhabi, the index ADX:FADGI advanced 1.1%, buoyed by a 6.7% surge in Abu Dhabi Islamic Bank ADX:ADIB a day after reporting a sharp rise in first-quarter profit.Oil prices - a catalyst for the Gulf's financial markets - recovered some losses as investors weighed a potential OPEC+ output increase against conflicting tariff signals from the White House and U.S.-Iran nuclear talks.The Qatari index QSE:GNRI added 0.3%, with Qatar Islamic Bank QSE:QIBK rising 1.4%.Dubai's main share index DFM:DFMGI, however, fell 0.2%, ending a five-session winning streak, hit by a 0.8% fall in blue-chip developer Emaar Properties DFM:EMAAR.** Egypt bourse was closed for a public holidaySAUDI ARABIATADAWUL:TASI rose 0.7% to 11,764Abu DhabiADX:FADGI up 1.1% to 9,425DubaiDFM:DFMGI eased 0.2% to 5,196QATARQSE:GNRI added 0.2% to 10,260 BAHRAINBAHRAIN:BHBX gained 0.7% to 1,902OMAN(.MSX30) eased 0.4% to 4,273KUWAIT(.BKP) was up 0.5% to 8,483

View stock analysis, news, and events for Qatar Islamic Bank