2 days ago
- Business
- Business Recorder
Middle Eastern stocks lower on geopolitics
DUBAI: Stock markets in the Middle East ended lower on Thursday with uncertainty looming after the US decided to relocate personnel from the region ahead of nuclear talks with Iran.
US President Donald Trump said on Wednesday US 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.
Saudi Arabia's benchmark index declined 1.5%, dragged down by a 1.2% fall in Al Rajhi Bank and a 3.3% decrease in Saudi Arabian Mining Company.
The Saudi bourse retreated, erasing all recent recovery gains and pushing the index back towards early June levels. All sectors posted negative performances, indicating a pervasive risk-off sentiment during today's session, said Milad Azar, market analyst at XTB MENA.
