MIDEAST STOCKS-GCC security discord with Qatar pummels shares, region mixed | Reuters:
"* Relief from Russia-Ukraine easing short-lived
* Surprise move against Qatar scares retail investors
* Qatar's index posts biggest drop in more than 6 months
By Nadia Saleem
DUBAI, March 5 (Reuters) - Qatar's shares led a decline in most Gulf markets on Wednesday after Saudi Arabia, the United Arab Emirates and Bahrain said they would withdraw envoys from Doha over what they called interference in their internal affairs.
The move, conveyed in a joint statement by the three countries, is unprecedented in the three-decade history of the Gulf Cooperation Council, a pro-Western alliance of Saudi Arabia, Bahrain, Kuwait, Qatar, the UAE and Oman.
Most Gulf markets reversed early-session gains driven by relief over Ukraine before Gulf tension hit investors sentiment.
"It's a diplomatic agreement at this stage to show a dissatisfaction with polices - I don't see a threat to commercial or economic ties between the GCC at this moment," said Abdullah Alawi, assistant general manager and head of research at Aljazira Capital."
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