Gulf Markets React to Earnings and Trade Tensions as Saudi Stocks Extend Losses

Saudi Arabia's Tadawul index fell for a ninth consecutive session, marking its longest losing streak in nearly two years. The decline was broad-based, with Saudi National Bank dropping 0.8% and Saudi Arabian Mining Company losing 1.3% after its CFO's retirement announcement. Retailer Fawaz AbdulAziz Al Hokair plunged 10% following a partial stake sale to Emirati group Al Futtaim Retail.

Qatar's market bucked the trend, rising 0.2% as Industries Qatar gained 1.2%. The petrochemical sector's strength helped push the index toward a two-year high, with no major corporate disruptions weighing on sentiment.

Investor focus remained split between regional earnings and renewed trade tensions after former U.S. President Donald TRUMP proposed 15-20% tariffs on EU imports. The threat of reciprocal tariffs above 10% loomed even as negotiations continue.