MIDEAST STOCKS-Most of Gulf little changed; Kuwait extends losses - Agricultural Commodities - Reuters:
Major Gulf bourses were little changed on Monday, a day after shares in the region fell steeply due to alarm over increasing hostility between the United Sates and Iran, while Kuwait extended losses.
Tehran promised vengeance after a U.S. air strike in Baghdad on Friday killed Qassem Soleimani, an Iranian top military commander and architect of its growing influence in the Middle East.
Trump also said that the United States will retaliate against Iran if Tehran were to strike 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.”
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