Most stock markets in the Gulf opened lower on Sunday following US strikes on Iranian nuclear sites, but pared some of their losses as investors assessed the potential economic impact of the escalating regional conflict.
US forces struck Iran’s three main nuclear sites, President Donald Trump said late on Saturday, and he warned Iran it would face more attacks if it does not agree to peace.
Saudi Arabia’s benchmark index edged 0.2% higher, helped by a 0.7% rise in the country’s biggest lender Saudi National Bank Israel launched attacks against Iran on June 13, saying the country was on the verge of developing nuclear weapons.
Iran says its nuclear programme is for peaceful purposes only.
Dubai stocks eases on profit-taking
Israel is widely assumed to possess nuclear weapons, which it neither confirms nor denies. In Qatar, the benchmark index gained more than 1% following a drop in early trade.
Qatar held crisis talks this week with energy majors after Israeli strikes on the huge South Pars field that it shares with Iran, Reuters reported on Friday, citing an industry source and a diplomat in the region.
The Omani share index fell 0.3%, while Kuwait’s premier index reversed early losses to trade 0.5% higher.
American Dollar Exchange Rate