Gulf stock markets fall as tensions rise between the US and Iran
Tadawul All Shares Index TASI.SA | 11486.18 | +0.52% |
From Muhammad Munther Hussein
February 22 (Reuters) - Gulf stock markets fell on Sunday as investors factored in heightened geopolitical tensions after the United States said Iran would suffer if it did not reach an agreement on its nuclear activities within days.
US President Donald Trump said on Thursday that there would be "serious consequences" if Tehran did not reach an agreement to curb its nuclear program. Trump set a deadline of 10 to 15 days.
The Qatari index fell for the second consecutive session, declining 0.6 percent, with most of its components dropping. Shares of Qatar National Bank fell 1.4 percent, while shares of Qatar Gas Transport Company Limited (Nakilat) declined 2 percent.
The Kuwaiti index fell 0.5 percent, while both the Bahraini and Omani indices declined 0.1 percent.
Outside the Gulf region, Egypt's blue-chip index fell for the second consecutive session, losing 2.2 percent as nearly all its constituent stocks declined. Shares of Commercial International Bank dropped 2.2 percent, while shares of Fawry, a banking technology and electronic payments company, fell 5.3 percent.
