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MIDEAST STOCKS-Major Gulf markets ease on fresh US tariff threats

ReutersJul 14, 2025 8:01 AM

- Major stock markets in the Gulf fell in early trade on Monday amid fresh U.S. tariff threats, although the losses were limited as investors are accustomed to President Donald Trump's policy swings.

Trump on Saturday said he would impose a 30% tariff on most imports from the EU and Mexico from August 1, even as they are locked in long negotiations.

The European Union said it would extend a suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement, though Germany's finance minister called for firm action if the levies went ahead.

Saudi Arabia's benchmark index .TASI eased 0.2%, hit by a 0.4% fall in Al Rajhi Bank 1120.SE.

However, ACWA Power Co 2082.SE advanced more than 1%. The firm signed power purchase agreements on Sunday for clean energy projects with a capacity of 15 gigawatts and investments worth around $8.3 billion, the Saudi state news agency (SPA) said.

Dubai's main share index .DFMGI dropped 0.3%, with sharia-compliant lender Dubai Islamic Bank DISB.DU declining 0.9% and toll operator Salik Company SALIK.DU losing 0.7%.

In Abu Dhabi, the index .FTFADGI lost 0.3%.

The Fed's decisions have a significant impact on the Gulf region's monetary policy, as most regional currencies are pegged to the U.S. dollar.

The Qatari index .QSI decreased 0.5%, weighed down by a 0.8% slide in petrochemical maker Industries Qatar IQCD.QA.

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