Most Gulf markets in red on rising tensions in the region

DUBAI: Most stock markets in the Gulf ended lower on Monday amid rising tensions in the region, with the Dubai index snapping two sessions of gains.

The Israeli military launched its most widespread wave of airstrikes against Iran-backed Hezbollah, targeting Lebanon’s south, eastern Bekaa Valley and northern region near Syria simultaneously after nearly a year of conflict.

Another round of attacks was expected. Israeli aircraft are preparing to attack Hezbollah strategic weapons stashed in houses in Lebanon’s Bekaa valley, the Israeli military spokesperson said, calling on civilians to evacuate immediately.

Dubai’s main share index eased 0.1%, hit by a 1.5% fall in blue-chip developer Emaar Properties.

The Qatari benchmark index finished flat.

In Abu Dhabi, the index edged 0.2% higher, supported by a 0.7% rise in conglomerate International Holding .

The Abu Dhabi stock market was under pressure, while uncertainty limited its potential for gains, said George Khoury Global Head of Education and Research at CFI.