DUBAI: Gulf stock markets fell on Sunday as investors weighed growing geopolitical tension after the US said Iran will suffer if it does not agree a deal on its nuclear activity in a matter of days. US President Donald Trump said on Thursday that “really bad things” would happen if Tehran does not come to an agreement to curtail its nuclear programme. Trump set a deadline of 10 to 15 days.
The Qatari benchmark index was down for a second straight day, falling 0.6 percent, with most constituents lower. Qatar National Bank, the region’s largest lender, was down 1.4 percent, while Qatar Gas Transport dropped 2 percent.
Outside the Gulf, Egypt’s blue-chip index also fell for a second day, losing 2.2 percent, with nearly all its stocks declining. Commercial International Bank retreated 2.2 percent, while Fawry for Banking Technology fell 5.3 percent.
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