❗️Gulf stock markets rise as US midterm losses fuel hopes of Iran de-escalation Most Gulf stock markets closed higher on Thursday as investors anticipated that Republican setbacks in this week's US congressional elections could potentially lower the likelihood of further escalation with Iran, lifting risk appetite across the region. Saudi Arabia's benchmark index advanced 0.6%, supported by gains in the country's largest lender by assets, Saudi National Bank, which rose 1.6%, and Al-Rajhi Bank, which added 0.8%. Sahara International Petrochemical fell 2.9% after reporting a larger third-quarter loss. Dubai's main stock index ended unchanged, while blue-chip developer Emaar Properties gained 1.8%. After trading closed, the company reported a sharp increase in third-quarter profits. Abu Dhabi's benchmark index climbed 0.6%, with conglomerate International Holding Company rising 1.9%. Qatar's benchmark index recorded the region's strongest gains, rising 1.8%, while Qatar Islamic Bank advanced 2.9%. Egypt's blue-chip index rose 1%.