Gulf equities edge lower as Iran war enters third week
Business
The Qatari index fell 0.5pc, with the Gulf’s biggest lender by assets.
(Reuters) - Most Gulf equities slipped in early trading on Sunday as the US-Israeli war on Iran entered its third week, with US President Donald Trump threatening further strikes on the Kharg Island oil export hub and Tehran vowing to intensify its response, per Reuters.
Iranian drone and missile strikes have hit airports, hotels, ports and military and oil installations across the region, exacting an economic and military toll on nearby Gulf states.
Saudi Arabia’s benchmark index was down 0.8 per cent with Al Rajhi Bank falling 0.9pc and the country’s biggest lender, Saudi National Bank, retreating 1.9pc.
The Qatari index fell 0.5pc, with the Gulf’s biggest lender by assets, Qatar National Bank down 1.3pc.
Bahrain’s index eased 0.3pc, while Oman’s was down 0.4pc.
