Latest news with #RegionalInstability
Zawya
2 hours ago
- Business
- Zawya
Mideast Stocks: Most Gulf markets in red amid escalating Israel-Iran conflict
Most stocks markets in the Gulf fell in early trade on Wednesday with investors exercising restraint due to fighting between Iran and Israel that entered a sixth day, sparking fears of potential regional instability. Thousands of people were fleeing Tehran and other major cities, Iranian media reported, as Iran and Israel launched new missile strikes at each other despite U.S. President Donald Trump calling for Tehran's unconditional surrender. Saudi Arabia's benchmark index dropped 0.7%, weighed down by a 0.6% fall in Al Rajhi Bank and 1% decrease in the country's biggest lender Saudi National Bank. Among other losers, Prince Waleed bin Talal-backed airline Flynas Company plunged about 13% in debut trade. The Saudi Exchange allows 30% fluctuation limits during the first three days of trade. Elsewhere, oil behemoth Saudi Aramco was down 0.6%. Oil prices - a catalyst for the Gulf's financial markets - eased in Asian trade, after a gain of 4% from the previous session, as markets weighed the chance of supply disruptions from the Iran-Israel conflict against a U.S. Federal Reserve interest rate decision that could weigh on oil demand. Dubai's main share index lost 0.6%, with toll operator Salik declining 2.1% and sharia-compliant lender Dubai Islamic Bank retreating 1.6%. The Qatari index fell 0.1%, hit by a 1.6% fall in Commercial Bank. In Abu Dhabi, the index edged 0.1% higher.
Zawya
19 hours ago
- Business
- Zawya
Mideast Stocks: Most Gulf markets in red over Israel-Iran conflict worries
Most stock markets in the Gulf ended lower on Tuesday with investors cautious due to fighting between Iran and Israel that entered a fifth day, sparking fears of potential regional instability. U.S. President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran. Iranian media reported explosions and heavy air defence fire in Tehran, and air raid sirens sounded in Tel Aviv in response to Iranian missiles. Saudi Arabia's benchmark index dropped 1.4%, weighed down by a 1% fall in Al Rajhi Bank and a 1.3% decline by oil behemoth Saudi Aramco. Dubai's main share index finished 0.6% lower, hit by a 1.2% fall in top lender Emirates NBD. Investors are also watching for details from the U.S. Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday. Traders are currently pricing in two cuts by the end of the year. In Abu Dhabi, the index fell 0.5%. The Iran-Israel conflict, meanwhile, drove oil prices higher, though major oil and gas infrastructure and flows have so far been spared from substantial impact. The Qatari benchmark lost 0.5%, with the Gulf's biggest lender Qatar National Bank retreating 0.8%. Outside the Gulf, Egypt's blue-chip index declined 1%, dragged down by a 4.7% tumble in investment bank EFG Holding . SAUDI ARABIA slid 1.4% to 10,714 Abu Dhabi fell 0.5% to 9,536 Dubai dropped 0.6% to 5,372 QATAR was down 0.5% to 10,411 EGYPT declined 1% to 30,726 BAHRAIN gained 0.3% to 1,910 OMAN eased 0.3% to 4,520 KUWAIT added 0.6% to 8,680 (Reporting by Ateeq Shariff in Bengaluru; Editing by Joe Bavier)
Zawya
a day ago
- Business
- Zawya
Mideast Stocks: Major Gulf bourses subdued on Israel-Iran conflict
Major stock markets in the Gulf were subdued in early trade on Tuesday with investors cautious as fighting between Iran and Israel entered its fifth day, sparking fears of potential regional instability. Iranian media reported explosions and heavy air defence fire in Tehran. In Israel, air raid sirens sounded in Tel Aviv in response to Iranian missiles. U.S. President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran, citing the country's rejection of a deal to curb nuclear weapons development. Saudi Arabia's benchmark index traded flat, a day after posting a 1.3% gain. ACWA Power Company declined 3.7% and oil giant Saudi Aramco was down 0.4%. The Qatari index inched 0.1% higher, helped by a 0.2% gain in petrochemical maker Industries Qatar. Investors are also watching for details from the U.S. Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday. The Fed is expected to hold rates steady but the focus yet again will be on the path its Chair Jerome Powell charts out for future rate cuts. Traders are currently pricing in two cuts by this year-end. In Abu Dhabi, the index was up 0.1% in a choppy trade. Dubai's main share index added 0.1%, with blue-chip developer Emaar Properties putting on 1.2%.
Reuters
a day ago
- Business
- Reuters
Major Gulf bourses subdued on Israel-Iran conflict
June 17 (Reuters) - Major stock markets in the Gulf were subdued in early trade on Tuesday with investors cautious as fighting between Iran and Israel entered its fifth day, sparking fears of potential regional instability. Iranian media reported explosions and heavy air defence fire in Tehran. In Israel, air raid sirens sounded in Tel Aviv in response to Iranian missiles. U.S. President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran, citing the country's rejection of a deal to curb nuclear weapons development. Saudi Arabia's benchmark index (.TASI), opens new tab traded flat, a day after posting a 1.3% gain. ACWA Power Company ( opens new tab declined 3.7% and oil giant Saudi Aramco ( opens new tab was down 0.4%. The Qatari index (.QSI), opens new tab inched 0.1% higher, helped by a 0.2% gain in petrochemical maker Industries Qatar ( opens new tab. Investors are also watching for details from the U.S. Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday. The Fed is expected to hold rates steady but the focus yet again will be on the path its Chair Jerome Powell charts out for future rate cuts. Traders are currently pricing in two cuts by this year-end. In Abu Dhabi, the index (.FTFADGI), opens new tab was up 0.1% in a choppy trade. Dubai's main share index (.DFMGI), opens new tab added 0.1%, with blue-chip developer Emaar Properties ( opens new tab putting on 1.2%.
