MIDEAST STOCKS-Gulf markets mixed as US-Iran trade attacks
ACWA 2082.SA | 0.00 | |
SNB 1180.SA | 0.00 | |
Tadawul All Shares Index TASI.SA | 0.00 |
By Ateeq Shariff
June 28 (Reuters) - Gulf stock markets closed mixed on Sunday as escalating military exchanges between the U.S. and Iran rattled investor confidence.
Iran launched missile and drone strikes against U.S. military bases in Kuwait and Bahrain early Sunday, following President Donald Trump's warning that he would destroy the country's leadership if they violated their interim peace accord.
The attacks cap a weekend of escalating regional violence that threatens to derail the fragile peace agreement. Just a day after agreeing to a new ceasefire, Israel struck Iran-backed Hezbollah targets in Lebanon, while the U.S. launched fresh airstrikes on Iran following an Iranian attack on a tanker in the Strait of Hormuz.
Saudi Arabia's benchmark index .TASI lost 0.2%, hit by a 1.2% slide in the country's biggest lender by assets Saudi National Bank 1180.SE and a 3% decline in ACWA Power Co 2082.SE.
However, oil major Saudi Aramco 2222.SE advanced 1.8% - snapping an eight-session losing streak.
Separately, a helicopter belonging to Aramco crashed on Sunday in Ras Tanura on Saudi Arabia's eastern coast on the Gulf, killing 14 nationals, the state news agency reported, adding that the cause was unknown.
In Qatar, the index .QSI edged 0.1% higher, helped by a 0.7% rise in the Gulf's biggest lender Qatar National Bank QNBK.QA.
Outside the Gulf, Egypt's blue-chip index .EGX30 retreated 2.1%, as most of its constituents were in negative territory including Commercial International Bank COMI.CA, which was down 2%.
Egypt has granted four state-owned companies preliminary listings as part of the government's privatisation programme, the cabinet said on Sunday.
Saudi Arabia |
.TASI fell 0.2% to 10,908 |
Qatar |
.QSI added 0.1% to 10294 |
Egypt |
.EGX30 dropped 2.1% to 50,344 |
Bahrain |
.BAX rose 0.3% to 2,042 |
Oman |
.MSX30 gained 1.2% to 7,403 |
Kuwait |
.BKP eased 0.1% to 9,115 |
