A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed
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Feb 13 (Reuters) – Most stock markets in the Gulf ended lower on Sunday, tracking Friday’s decline on Wall Street against the backdrop of a standoff between Russia and the West over Ukraine.
Washington on Friday said Russia had massed enough troops near Ukraine to launch a major invasion and urged U.S. citizens to leave the country within 48 hours after Russia stiffened its response to Western diplomacy. Moscow denies it plans to invade. read more
Saudi Arabia’s benchmark index (.TASI) led the losses, retreating 2% for its biggest daily decline since late November, with stocks falling across the board.
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On Thursday 12 people were injured at Saudi Arabia’s Abha airport by shrapnel from an explosive-laden drone intercepted by air defences, said the Saudi-led coalition fighting Yemen’s Iran-aligned Houthi group. read more
The Houthis often launch attacks on Abha airport, which lies close to the Yemeni border in Saudi Arabia’s south, and other parts of the country with drones and missiles. Most attacks are intercepted but a few people have been killed and several injured.
Elsewhere, oil behemoth Saudi Aramco (2222.SE), reversed early gains to finish 0.7% down.
Saudi Arabia’s Crown Prince Mohammed bin Salman has transferred 4% of Saudi Aramco shares worth $80 billion to the kingdom’s sovereign wealth fund, the government said on Sunday. read more
Sunday’s declines were despite crude oil prices, a catalyst for the Gulf’s financial markets, closing at seven-year highs on Friday, driven up 3% by escalating fears of a potential Russian invasion of Ukraine, adding to concerns over global crude supplies. read more
The Qatari index (.QSI) dropped 1.3%, with almost all stocks in negative territory, including petrochemicals producer Industries Qatar (IQCD.QA), which fell by 1.9%.
Outside the Gulf, Egypt’s blue-chip index (.EGX30) closed 1.2% down, with top lender Commercial International Bank (COMI.CA) losing 0.7%.
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Reporting by Ateeq Shariff in Bengaluru
Editing by David Goodman
Our Standards: The Thomson Reuters Trust Principles.
A trader looks on near electronic boards showing stock market data at Bahrain Bourse after Joe Biden won the U.S. presidency, in Manama, Bahrain, November 8, 2020. REUTERS/Hamad I Mohammed Register now for FREE unlimited access to Reuters.comFeb 13 (Reuters) – Most stock markets in the Gulf ended lower on Sunday, tracking Friday’s decline on Wall Street against the backdrop of a standoff between Russia and the West over Ukraine.Washington on Friday said Russia had massed enough troops near Ukraine to launch a major invasion and urged U.S. citizens to leave the country within 48 hours after Russia stiffened its response to Western diplomacy. Moscow denies it plans to invade. read more Saudi Arabia’s benchmark index (.TASI) led the losses, retreating 2% for its biggest daily decline since late November, with stocks falling across the board.Register now for FREE unlimited access to Reuters.comOn Thursday 12 people were injured at Saudi Arabia’s Abha airport by shrapnel from an explosive-laden drone intercepted by air defences, said the Saudi-led coalition fighting Yemen’s Iran-aligned Houthi group. read more The Houthis often launch attacks on Abha airport, which lies close to the Yemeni border in Saudi Arabia’s south, and other parts of the country with drones and missiles. Most attacks are intercepted but a few people have been killed and several injured.Elsewhere, oil behemoth Saudi Aramco (2222.SE), reversed early gains to finish 0.7% down.Saudi Arabia’s Crown Prince Mohammed bin Salman has transferred 4% of Saudi Aramco shares worth $80 billion to the kingdom’s sovereign wealth fund, the government said on Sunday. read more Sunday’s declines were despite crude oil prices, a catalyst for the Gulf’s financial markets, closing at seven-year highs on Friday, driven up 3% by escalating fears of a potential Russian invasion of Ukraine, adding to concerns over global crude supplies. read more The Qatari index (.QSI) dropped 1.3%, with almost all stocks in negative territory, including petrochemicals producer Industries Qatar (IQCD.QA), which fell by 1.9%.Outside the Gulf, Egypt’s blue-chip index (.EGX30) closed 1.2% down, with top lender Commercial International Bank (COMI.CA) losing 0.7%.Register now for FREE unlimited access to Reuters.comReporting by Ateeq Shariff in Bengaluru Editing by David Goodman Our Standards: The Thomson Reuters Trust Principles.