• Gulf markets closed mixed on Thursday but posted weekly losses as concerns over U.S. tariffs deepened. The Saudi index fell 0.7% for the third straight week, despite rebounding 0.18% on Friday to 11,725 points, supported by banking stocks. Market liquidity stood at 6.2 billion SAR, with a market cap of 9.65 trillion SAR. Kuwait’s Premier Market Index dropped 0.7% on Thursday, posting a 2.2% weekly loss—its biggest in five months. Qatar’s index slipped 0.1% for its third consecutive daily decline, weighed down by QNB (-0.3%), while United Development Co. plunged 5% after trading ex-dividend. Over the week, the index fell 0.9%, hitting its lowest close this year.

• In the UAE, Abu Dhabi’s FTSE index inched higher on Friday but ended the week down 0.3%, marking four straight weeks of losses. Dubai’s index declined 0.9% on Friday, dragged down by a 2% drop in Emaar Properties, bringing its weekly loss to 1.6%. The Saudi market, despite a brief rebound, continued its three-week losing streak, its longest in six months. The banking sector gained 0.4%, while media and REITs rose 4.7% and 0.3%, respectively. Uncertainty over economic conditions and global market pressures continue to weigh on Gulf equities.