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Gulf stocks close higher as Trump dials back Iran strike talk
Gulf bourses ended higher on Tuesday after US President Donald Trump said military action against Iran isn’t needed “at this point”. Trump plans to hold off on fresh strikes for now after appeals from regional allies including Qatar’s prime minister. However, the naval blockade in the Strait of Hormuz stays in place for the time being. Saudi Arabia’s benchmark index rose 0.6%, with Al Rajhi Bank gaining 2.6% and the country’s biggest lender by assets Saudi National closing 0.8% higher. On the other hand, oil major Saudi Aramco dropped 1.9%. Saudi-led coalition forces in Yemen said Tuesday they...
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