Major Gulf markets retreat on geopolitics
June 12 (Reuters) - Major stock markets in the Gulf fell in early trade on Thursday amid uncertainty following the U.S. decision to relocate personnel from the Middle East ahead of nuclear talks with Iran.
U.S. President Donald Trump said on Wednesday U.S. personnel were being moved out of the Middle East because "it could be a dangerous place," adding that the United States would not allow Iran to have a nuclear weapon.
Reuters reported on Wednesday that the U.S. is preparing a partial evacuation of its Iraqi embassy and will allow military dependents to leave locations around the Middle East due to heightened security risks in the region, according to U.S. and Iraqi sources.
Saudi Arabia's benchmark index (.TASI), opens new tab dropped 1.3% as almost all its constituents were in negative territory including Al Rajhi Bank (1120.SE), opens new tab, which was down 0.6%.
Among other losers, oil giant Saudi Aramco (2222.SE), opens new tab was down 0.4%.
The decision by the U.S. to evacuate some personnel comes at a volatile moment in the region. Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked and U.S. intelligence indicates that Israel has been making preparations for a strike against Iran's nuclear facilities.
Iranian Defence Minister Aziz Nasirzadeh said on Wednesday that if Iran was subjected to strikes it would retaliate by hitting U.S. bases in the region.
Dubai's main share index (.DDFMGI), opens new tab retreated 1.7%, its biggest intraday fall since April, dragged down by losses across sectors and led by a 3% slide in blue-chip developer Emaar Properties (EMAR.DU), opens new tab.
In Abu Dhabi, the index (.FTFADGI), opens new tab fell 1%, hit by a 2% fall in ADNOC Gas (ADNOCGAS.AD), opens new tab.
The Qatari index (.QSI), opens new tab traded 0.8% lower, with petrochemical maker Industries Qatar (IQCD.QA), opens new tab losing 1%.
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