1440 GMT - Dubai leads most major Gulf exchanges lower, while Saudi Arabia rises. Saudi Arabia bucks the regional trend, supported by gains in banking shares following strong second-quarter profits from major lenders. Saudi Arabia's Tadawul All Share Index rises 0.7%. The Dubai Financial Market General Index falls 0.5%, Qatar's QE Index drops 0.4% and Abu Dhabi's benchmark index loses 0.1%. S&P Global Market Intelligence says that the U.S. and Iran appear to be entering a period of sustained confrontation, below the threshold of full-scale war, which increases risks to shipping and energy flows through the Strait of Hormuz. It says the recovery in Hormuz traffic has stalled and military exchanges remain a key driver of near-term economic and financial prospects. (farhan.rafid@wsj.com)
(END) Dow Jones Newswires
July 22, 2026 10:40 ET (14:40 GMT)
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