Stock markets across the Gulf opened mixed on Tuesday, as muted oil prices and mounting geopolitical tensions kept investor sentiment in check.
Saudi Arabia’s Tadawul index dipped 0.1%, halting a two-day gain, weighed down by a sharp 9.9% drop in media conglomerate MBC Group. The downturn came after the kingdom’s Public Investment Fund launched a $5 billion bond offering, according to capital markets outlet IFR.
Oil prices — a key driver of Gulf market momentum — remained largely unchanged as traders balanced concerns over Middle East instability and disruptions to U.S. output caused by severe weather.
In Abu Dhabi, the main index fell 0.4%, led by a 0.6% decline in International Holding Co., the emirate’s largest listed company.
Dubai’s DFM index, in contrast, gained 0.4%, bolstered by a strong 8.9% rally in Mashreq Bank shares.
Qatar’s benchmark added 0.2%, driven by a 3.4% gain in Mesaieed Petrochemical Holding.
Separately, the President of the United Arab Emirates issued a new federal law establishing a national Artificial Intelligence and Advanced Technology Council, the Abu Dhabi Media Office confirmed Monday. The council aims to guide the country’s innovation policy and foster long-term technology development.
Meanwhile, tensions in the region escalated further as U.S. and British forces launched fresh airstrikes targeting missile and surveillance facilities controlled by Yemen’s Houthi rebels. The strikes included an underground storage site, according to defense sources.
The regional instability continues to cast a shadow over investor outlooks, even as local economic fundamentals remain largely resilient.
