Monday 13 May 2019

MIDEAST STOCKS-Trade tensions, tanker attacks darken mood in Gulf markets - Reuters

MIDEAST STOCKS-Trade tensions, tanker attacks darken mood in Gulf markets - Reuters:

Dubai and Abu Dhabi stock markets suffered their biggest
single-day decline in years on Monday after several commercial ships were
attacked off the coast of the United Arab Emirates.

Saudi shares had their worst day since mid-October after Riyadh said two of
its oil tankers were among the vessels hit in the attacks.

Saudi Arabia's index declined 3.6%, with Al Rajhi Bank
dropping 4.6% and petrochemical group Saudi Basic Industries falling
5.1%. The index is down nearly 10% since the start of May.

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