Page 37 - UP GENERAL REPORT - JULY 2025
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7/3/25, 9:32 AM Mideast Stocks: Gulf shares muted on tariff uncertainty, Fed rate cut in focus
Image used for illustrative purpose only. Traders monitor the share prices at the Abu Dhabi stock market. Reuters Images/ Ravindranath.
Mideast Stocks: Gulf shares muted on tariff uncertainty, Fed rate cut in focus
The Abu Dhabi benchmark index fell 0.2%
Md Manzer Hussain, Reuters News
July 2, 2025
Most stock markets in the Gulf were muted in early trade on Wednesday as investors weighed uncertainty over U.S. trade deals with a July tariff
deadline fast approaching, while U.S. Federal Reserve Chair's comments kept expectations of a rate cut alive.
The Abu Dhabi benchmark index fell 0.2%, dragged down by a 1.4% drop in RAK Properties and a 0.4% dip in Aldar Properties.
The emirate's blue-chip developer Aldar has acquired warehousing and industrial real estate assets in the Al Dhafra region of Abu Dhabi from Waha
Capital for 530 million dirhams, it said on Tuesday.
Dubai's benchmark stock index was down 0.3%. Union Properties slipped 1.8% and Emirates NBD, the emirate's largest lender, lost 0.9%.
The Qatari benchmark index dropped 0.3% with Qatar Gas Transport sliding 1.6% and Qatar National Bank , the region's largest lender, shedding
0.3%.
Saudi Arabia's benchmark stock index inched down 0.1%. National Shipping Company dropped 3.7% and Saudi Arabian Mining Company slipped
1%.
Saudi Arabia's flagship mining company Ma'aden said it had completed the acquisition of the entire stake owned by AWA Saudi in MBAC and Alcoa
Saudi in Maaden Aluminium Company.
However, Saudi oilfield services firm Arabian Drilling advanced 5.5% after the driller said it has secured 1.37 billion riyals ($365.33 mln) in contract
extensions for four rigs with Saudi Aramco.
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