DUBAI: Most stock markets in the Gulf ended lower on Wednesday with investors exercising restraint due to fighting between Iran and Israel that entered a sixth day, sparking fears of potential regional instability.
Iran’s Supreme Leader Ayatollah Ali Khamenei rejected US President Donald Trump’s demand for unconditional surrender on Wednesday, as Iranians jammed the highways out of Tehran fleeing from intensified Israeli airstrikes.
Saudi Arabia’s benchmark index declined 1.2%, weighed down by a 3.3% slide in ACWA Power Company and a 2% drop in Saudi Arabian Mining Company.
Among other losers, Prince Waleed bin Talal-backed airline Flynas Company closed 3.4% lower in debut trade.
Elsewhere, oil giant Saudi Aramco eased 0.3%.
Additionally, investor uncertainty surrounding today’s US Federal Reserve meeting is contributing to the cautious mood, with most market participants expecting the central bank to hold interest rates steady, said Joseph Dahrieh, managing principal at Tickmill.
Comments
Comments are closed for this article.