Gulf stock markets ended mixed after US President Donald Trump rejected an Iranian peace blueprint aimed at ending hostilities and reopening the vital Strait of Hormuz, Reuters reports.

Saudi Arabia’s benchmark index bucked the broader unease to advance 0.8 per cent, buoyed by strong financial sector performance. Heavyweight lenders anchored the gains.

Al Rajhi Bank rose 2.5pc and Saudi National Bank climbed 2.3pc, despite weekend reports that the Saudi-led coalition had intercepted ballistic missiles and drones launched toward the kingdom by Yemen’s Houthis.

Elsewhere, Qatar’s index slipped 0.3pc, weighed down by a 1pc retreat in telecom operator Ooredoo.

Outside the Gulf, Egypt’s blue-chip index slid 1.4pc, pressured primarily by a 3.7pc fall in tobacco monopoly Eastern Company.