MIDEAST STOCKS-Most Gulf markets stabilise after steep falls over Iran - Reuters:
Most major markets in the Middle East
stabilised on Monday after steep declines in the previous
session on U.S.-Iran tensions, with some eking out small gains
on the day.
Tehran promised vengeance after a U.S. air strike in Baghdad
on Friday killed Iranian military commander Qassem Soleimani.
U.S. President Donald Trump said the United States would
retaliate if Tehran struck back after the killing.
"Escalation encourages money to leave the region and reduces
investment inflows, as an actual war would be devastating for
regional economies," said Firas Modad, Middle East and North
Africa director at IHS Markit.
"It also raises the price of oil, but not enough to plug the
hole in the Saudi budget."
Saudi Arabia's benchmark index had fallen 2.4% on
Sunday - the first day of trading after the attack in Baghdad -
but edged back up 0.2% on Monday. Samba Financial Group
increased 2.6% and Saudi British Bank
climbed 2.8%.
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