Monday 14/April/2025 – 04:58 PM
Most of the Gulf stock markets closed on Monday, against the backdrop of its global counterpart, supported by the decline in trade tensions after the United States granted smartphones and computers from customs duties.
This step also excluded electronic devices from the basic customs duties imposed by Trump by 10% on goods from most countries except China, which reduced the costs of importing semiconductors from Taiwan and iPhone phones from Apple that are produced in India, according to Reuters.
The index in Dubai rose 1.8%, backed by a jump 4.7% in the share of Emirates NBD and 3.2% in the share of Dubai Islamic Bank.
Money markets in the Gulf
Oil prices, a major engine for financial markets in the Gulf, rose by more than 1% thanks to the exceptions of American customs duties and Chinese data showing a sharp recovery in crude oil imports in March, but fears that the trade war between the United States and China will weaken global economic growth and shrinking fuel has limited oil gains.
The Qatari index submitted 0.3%, supported by the share of Qatar National Bank, the largest Gulf banks, 1%, while the Saudi Stock Exchange index settled, after two sessions of gains.
On Monday, the Organization of Petroleum Exporting Countries (OPEC) reduced its expectations for the growth of global oil demand in 2025, due to the impact of the data received from the first quarter of the year and the customs duties announced by the United States, and its expectations for the growth of the global economy in the current and next two years.
The main index in Bahrain rose 0.1% at 1904 points. The main index in Oman closed stability at 4276 points. The main index in Kuwait fell 0.1% to 8357 points.
