Gulf stocks rebound as Mecca defense pact countries push for peace
This handout picture provided by the Iranian presidency shows (L to R) Saudi Arabia's Defense Minister Prince Khalid bin Salman Al Saud, Pakistani army chief General Syed Asim Munir and intelligence chief Ibrahim Kalin during their meeting with Iran's president, foreign minister and national security council head, Tehran, Iran, Oct. 26, 2026. (AFP Photo)


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.