Gulf equities finish mixed as US-Iran frictions weigh

Gulf equity markets ended Sunday's session on a mixed note, with investors adopting a cautious stance amid escalating frictions between Washington and Tehran.

Iran has pledged to counter U.S. sanctions and cautioned that any further aggression would draw a "painful response." Six months after the first U.S.-Israeli strikes, the standoff remains deadlocked after diplomatic attempts to secure peace broke down following the collapse of a June truce.

Hostilities have resumed after a short-lived lull in July. On Saturday, U.S. Central Command said it hit three Iranian tankers in retaliation for ballistic missile strikes targeting two U.S. Navy vessels.

Saudi Arabia's main index advanced 0.3% to 11,069, buoyed by heavyweight banking shares. Al Rajhi Bank (TADAWUL:1120) added 0.7% and Saudi National Bank (TADAWUL:1180) rose 1.1%.

Qatar's index slipped 0.3% to 9,734, weighed by a 0.7% decline in Qatar Islamic Bank (QE:QISB).

Beyond the Gulf, Egypt's blue-chip index climbed 0.7% to 56,676, supported by a 2.2% gain in Talaat Moustafa Group Holding (CASE:TMGH).

Bahrain's index eased 0.1% to 1,937, Kuwait's index dropped 0.2% to 9,227, and Oman's index was steady at 7,632.

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