MIDEAST STOCKS-Saudi shares decline after Iran seizes UK tanker; other markets mixed - Reuters:
Saudi Arabian shares declined on Sunday, as Iran’s seizure of a British-flagged tanker raised investor concern about geopolitical risk, while some investors booked profit after the market’s strong run this year.
Britain has denounced Iran’s capture of the oil tanker in the Gulf on Friday as a “hostile act”, rejecting Tehran’s explanation that it seized the vessel because it had been involved in an accident.
“Markets are following the negative global lead as geopolitical risks take centre stage following the UK tanker seizure by Iran,” said Vrajesh Bhandari, senior portfolio manager at Al Mal Capital in Dubai.
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