MIDEAST STOCKS-Most Gulf stock markets extend losses amid rising US-Iran tensions

Quantum-Si Incorporated Class A
Baxter International Inc.

Quantum-Si Incorporated Class A

QSI

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Baxter International Inc.

BAX

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- Most Gulf stock markets fell on Thursday, extending losses from the previous session, as renewed hostilities between the United States and Iran weighed on investor sentiment.

The U.S. military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain.

The attacks came hours after U.S. President Donald Trump said he believed an interim ceasefire with Iran was "over."

Brent crude futures LCOc1 rose 86 cents, or 1.1%, to $78.88 a barrel by 0352 GMT. O/R

Saudi Arabia's benchmark stock index .TASI lost 0.4%, with Al Rajhi Bank 1120.SE declining 0.8%.

Dubai's main share index .DFMGI fell 0.8%, with blue-chip developer Emaar Properties EMAR.DU slipping 1% and top lender Emirates NBD Bank ENBD.DU down 0.7%. Budget carrier Air Arabia AIRA.DU fell more than 2%.

Abu Dhabi's benchmark index .FTFADGI slipped 0.5%, with the UAE's largest lender, First Abu Dhabi Bank FAB.AD, losing 0.6%.

Shares of Emirates Telecommunications Group EAND.AD eased 0.4%, a day after a media report of a widespread service outage.

In Qatar, the index .QSI dipped 0.8%, with the region's biggest lender, Qatar National Bank QNBK.QA, down 1%.