- Gulf stock markets closed lower after Houthi attacks on Saudi oil installations at two Red Sea ports and Saudi-backed forces bombed the Houthis, extending the war.
- Saudi Arabia's benchmark index lost 0.3%, with Banque Saudi Fransi sliding 4% on an ex-dividend trade and Saudi Aramco retreating 0.9%.
- Qatar's index fell 0.3% led by Qatar Islamic Bank losing 0.8%, while Egypt's blue-chip index dropped 1% with Commercial International Bank declining 0.9%.
- A table of regional market moves shows Saudi Arabia eased 0.3% to 10,767, Qatar lost 0.3% to 10,004, Egypt declined 1% to 53,418, Bahrain down 0.1%, Oman added 0.7%, and Kuwait gained 0.6%.
Most Gulf stock markets closed lower on Sunday as tensions escalated following Houthi attacks on Saudi oil installations at two Red Sea ports. The Saudi benchmark index fell 0.3%, primarily due to a 4% drop in Banque Saudi Fransi, which traded ex-dividend.123456
In addition to Saudi Arabia, Qatar's index also decreased by 0.3%, with Qatar Islamic Bank losing 0.8%. Meanwhile, Egypt's blue-chip index saw a 1% decline, with most constituents, including Commercial International Bank, down by 0.9%.
The market reactions reflect growing concerns over the ongoing conflict, as Saudi-backed forces retaliated against the Houthis, extending the war in the Gulf to a second front. The overall sentiment in the region remains cautious as investors assess the implications of these developments on oil supply and regional stability.
“Saudi Arabia's benchmark index lost 0.3%, with Banque Saudi Fransi sliding 4% on an ex-dividend trade and Aramco declining 0.9%. Qatar's index fell 0.3% led by Qatar Islamic Bank, while Egypt's blue-chip index dropped 1% with Commercial International Bank down 0.9%.”
