Major stock markets in the Gulf tumbled on Sunday amid worries that rising conflict between Palestinian group Hamas and Israel threatens to spiral.
Israel pounded Gaza on Sunday after suffering its bloodiest attack in decades when Hamas fighters rampaged through Israeli towns a day earlier, threatening a major new war in the Middle East.
Saudi Arabia's benchmark index (.TASI) slumped 1.6%, the sharpest decline in 10 months.
The index was dragged down by losses in all sectors, with Lumi Rental (4262.SE) down 5% and Etihad Atheeb Telecommunication (7040.SE) dropping 5.3%.
Saudi Aramco Base Oil (2223.SE) (Luberef)dropped 6.8% and the world's largest Islamic bank by assets, Al Rajhi Bank(1120.SE) slipped 2.1%.
The Qatari index (.QSI) fell for a third straight session, ending 0.6% lower, with most sectors in the red.
Industries Qatar (IQCD.QA) dropped 1.1% and Commercial Bank (COMB.QA) lost 1.2%.
Outside the Gulf, Egypt's blue-chip index (.EGX30) plunged 2.6%, the steepest drop in nearly three months.
The index was weighed down by losses in all sectors with Commercial International Bank (COMI.CA) falling 2.7% and E-Finance For Digital And Financial Investments (EFIH.CA) sliding 4.8%.
Among the losers, Telecom Egypt (ETEL.CA) and Fawry Banking (FWRY.CA) lost 4.2% and 4.7% respectively.
No comments:
Post a Comment