Dubai leads Gulf gains as UAE, Saudi growth data lift sentiment
BENGALURU: Gulf stock markets rose on Thursday, led by Dubai, as strong economic data in the United Arab Emirates and Saudi Arabia outweighed investor concerns over renewed U.S.-Iran clashes. The latest attacks marked the most substantial exchange of fire between the U.S. and Iran since July, with the war now in its seventh month. UAE non-oil private-sector activity expanded in August at its fastest pace since December 2024, supported by sharper increases in output and new business, a survey showed. Dubai’s main index rose 0.5%, with all sectors trading higher. Blue-chip developer Emaar Properties gained 1.1%, while Emirates NBD, Dubai’s largest lender, added 0.5%. Abu Dhabi’s benchmark index edged up 0.3%, led by gains in real estate and basic-materials stocks. Aldar Properties rose 0.9% and Space 42 advanced 6.7%. Saudi Arabia’s benchmark index advanced 0.2%, helped by gains in financial, IT and materials stocks. Saudi Arabian Mining rose 1.7%, and Riyad Bank gained 1.1%. Saudi Arabia’s non-oil private sector expanded at its fastest pace in six months in August, driven by stronger output as market activity recovered, a business survey showed. National Shipping Company of Saudi Ar
Dubai leads Gulf gains as UAE, Saudi growth data lift sentiment
BENGALURU: Gulf stock markets rose on Thursday, led by Dubai, as strong economic data in the United Arab Emirates and Saudi Arabia outweighed investor concerns over renewed U.S.-Iran clashes. The latest attacks marked the most substantial exchange of fire between the U.S. and Iran since July, with the war now in its seventh month. UAE non-oil private-sector activity expanded in August at its fastest pace since December 2024, supported by sharper increases in output and new business, a survey showed. Dubai’s main index rose 0.5%, with all sectors trading higher. Blue-chip developer Emaar Properties gained 1.1%, while Emirates NBD, Dubai’s largest lender, added 0.5%. Abu Dhabi’s benchmark index edged up 0.3%, led by gains in real estate and basic-materials stocks. Aldar Properties rose 0.9% and Space 42 advanced 6.7%. Saudi Arabia’s benchmark index advanced 0.2%, helped by gains in financial, IT and materials stocks. Saudi Arabian Mining rose 1.7%, and Riyad Bank gained 1.1%. Saudi Arabia’s non-oil private sector expanded at its fastest pace in six months in August, driven by stronger output as market activity recovered, a business survey showed. National Shipping Company of Saudi Ar
