Mideast Stocks: Most Gulf markets in red over Israel-Iran conflict worries
17/06/2025 14:28
By Ateeq Shariff June 17 (Reuters) - Most stock markets in the Gulf ended lower on Tuesday with investors cautious due to fighting between Iran and Israel that entered a fifth day, sparking fears of potential regional instability. U.S. President Donald Trump, returning early from the G7 summit in Canada on Monday night, urged Iranians to evacuate Tehran. Iranian media reported explosions and heavy air defence fire in Tehran, and air raid sirens sounded in Tel Aviv in response to Iranian missiles. Saudi Arabia's benchmark index .TASI dropped 1.4%, weighed down by a 1% fall in Al Rajhi Bank 1120.SE and a 1.3% decline by oil behemoth Saudi Aramco 2222.SE. Dubai's main share index .DFMGI finished 0.6% lower, hit by a 1.2% fall in top lender Emirates NBD ENBD.DU. Investors are also watching for details from the U.S. Federal Reserve meeting scheduled to start later in the day, with a decision expected on Wednesday. Traders are currently pricing in two cuts by the end of the year. In Abu Dhabi, the index .FTFADGI fell 0.5%. The Iran-Israel conflict, meanwhile, drove oil prices higher, though major oil and gas infrastructure and flows have so far been spared from substantial impact. The Qatari benchmark .QSI lost 0.5%, with the Gulf's biggest lender Qatar National Bank QNBK.QA retreating 0.8%. Outside the Gulf, Egypt's blue-chip index .EGX30 declined 1%, dragged down by a 4.7% tumble in investment bank EFG Holding HRHO.CA.
| SAUDI ARABIA | .TASI slid 1.4% to 10,714 |
| Abu Dhabi | .FTFADGI fell 0.5% to 9,536 |
| Dubai | .DFMGI dropped 0.6% to 5,372 |
| QATAR | .QSI was down 0.5% to 10,411 |
| EGYPT | .EGX30 declined 1% to 30,726 |
| BAHRAIN | .BAX gained 0.3% to 1,910 |
| OMAN | .MSX30 eased 0.3% to 4,520 |
| KUWAIT | .BKP added 0.6% to 8,680 |