LONDON: Ahead of the US’ possible re-imposition of broad tariffs on July 9, investors kept an eye on developments in global trade as Gulf stock markets closed Wednesday unsettled. President Donald Trump continued to express uncertainty about striking an agreement with Japan on Tuesday, saying he was not considering extending the July 9 deadline for nations to negotiate trade accords with the US.
After two straight days of losses, Saudi Arabia’s benchmark index increased by 0.1 percent, aided by a 1.7 percent increase in Saudi Arabian Mining Company. Joseph Dahrieh, managing principle of Tickmill, stated that the region’s cautious attitude was a contributing factor in the sector’s uneven results.
Despite a promising economic forecast, low oil prices remain a concern, and investors are waiting for further information to provide greater clarity,” he added. As the US dollar continued to weaken and markets considered the possibility of additional supply from big producers next month, oil futures increased somewhat as Iran halted cooperation with the UN nuclear monitor. The toll operator Salik Company had a 1.3 percent decline, which contributed to a 0.4 percent decline in Dubai’s main share index.
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