Major Gulf stock indices climbed early Tuesday, a day after senior officials from Saudi Arabia, Türkiye and Pakistan met top Iranian officials in Tehran seeking to ease military escalation in the region.
The talks were the first high-level contact between Iran and the three nations – which signed a mutual defense pact in August – since a war that began with U.S. and Israeli strikes on Iran also spread to Saudi Arabia and Yemen.
Saudi Arabia's benchmark index gained 0.5%, with Al Rajhi Bank up 0.6%.
Dubai's main index rose 0.6%, led by blue-chip developer Emaar Properties, which advanced 1.8%.
Also in Dubai, DIP Holding, owner of the Dubai Investments Park real estate business, is seeking to raise up to $543 million in an initial public offering (IPO). It would be the UAE's first potential listing this year.
In Abu Dhabi, the index added 0.3%.
The Qatari index gained 1%, with the Gulf's biggest lender, Qatar National Bank, rising 0.7%.
Regional tensions remained high. The Saudi-led coalition in Yemen said on Tuesday it had intercepted and destroyed ballistic missiles and drones launched by the Iran-aligned Houthis at two regions of Saudi Arabia.