Gulf markets mixed as investors await war on Iran developments

❗️Gulf markets mixed as investors await war on Iran developments Major Gulf stock markets moved in mixed directions early on Wednesday as investors monitored developments in efforts to bring an end to the US-Israeli war on Iran. Saudi Arabia’s benchmark index gained 0.3%, supported by a 1.2% increase in Al-Rajhi Bank, while oil giant Saudi Aramco fell 1%. Brent crude futures declined 32 cents, or 0.4%, to $79.04 a barrel by 06:30 GMT, following a drop of more than 5% in the previous session. Among the biggest decliners, Power and Water Utility Co for Jubail and Yanbu and Retal Urban Development Co each plunged 10% to their daily limits after reporting second-quarter losses. Dubai’s main stock index slipped 0.1%, weighed down by a 0.7% decline in Dubai Electricity and Water Authority. Abu Dhabi’s benchmark index also fell 0.2%. Meanwhile, Qatar’s index climbed 1%, with most listed companies trading higher, including the Gulf’s largest lender, Qatar National Bank, which rose 1.1%.