Middle East markets rebound as diplomacy fuels hopes of easing Iran hostilities
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Most Middle East stock markets rebounded in early trade on Monday as scheduled talks between Iranian leaders and officials from Saudi Arabia, Turkey and Pakistan raised hopes of easing tensions.
- ✓The Saudi index jumped 2.5%, heading for its first gain in six sessions, while Egypt also erased its early losses.
Story at a Glance
- Category
- MARKET
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Summary
Companies
Saudi index heads for first gain in six sessions
Saudi, Turkish and Pakistani officials to meet Iranian leaders in Tehran
Egypt erases early losses after sharp selloff in the previous session
Oct 26 (Reuters) - Most Middle East stock markets rebounded in early trade on Monday, as scheduled talks between Iranian leaders and officials from Saudi Arabia, Turkey and Pakistan raised hopes of easing tensions between the US and Iran.
The talks, set to take place in Tehran on Monday, will be the first high-level contact between the four countries since Saudi Arabia became a pressure point in the wider Iran conflict.
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Qatari mediators also travelled to Tehran on Sunday. Earlier mediation efforts involving both Pakistan and Qatar helped produce an interim peace agreement in June, but the deal quickly unravelled.
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Reuters
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