Business Recorder
Most stock markets in the Gulf ended higher on Sunday, but gains were capped by uncertainty over a possible U.S.-Iran deal after Trump said he was awaiting the final text and warned strikes could resume. A senior Iranian official said Tehran had proposed a plan — rejected so far by Trump — that would reopen shipping through the Strait of Hormuz and lift the U.S. blockade on Iran, while postponing negotiations over Iran’s nuclear program until a later stage. Saudi Arabia’s benchmark index edged 0.1% higher, helped by a 2.5% rise in Saudi Arabian Mining Company. However, oil major Saudi Aramco fell 0.9%. READ MORE: Gulf shares slip on report of potential US military action against Iran On Friday, Brent crude futures for July LCOc1 settled at $108.17, down $2.23 a barrel, or 2.02%, following a new Iran proposal for peace talks. The Qatari index gained 0.4%, with the Gulf’s biggest lender Qatar National Bank rising 1.4%. Outside the Gulf, Egypt’s blue-chip index advanced 1.1%, with Commercial International Bank rising 0.7%. Saudi Arabia added 0.1% to 11,193 Qatar gained 0.4% to 10,533 Egypt advanced 1.1% to 52,313 Bahrain was up 0.2% to 1,972 Oman eased 0.1% to 8,361 Kuwait rose 0.6% to 9,435
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