[ad_1]
Reuters
Saudi actions
Most Gulf stock markets closed higher on Sunday despite losses at the start of trading, while Saudi stocks fell.
Saudi stocks fell after US intelligence released a report on Friday saying Crown Prince Mohammed bin Salman approved an operation to arrest or kill dissident Saudi journalist Jamal Khashoggi in 2018.
The main index in Saudi Arabia fell 0.5%, the biggest drop since Feb. 18, and Al-Rajhi Bank lost 1.8%, while petrochemical producer Saudi Basic Industries Corporation (SABIC ) fell 3%.
“I don’t think investors thought there was a great risk that the United States would destroy relations with Saudi Arabia by targeting Mohammed bin Salman … the political risks in the kingdom are high, as are the valuations, “Khaled Abdul said. Majeed of the investment advisory firm, Sam Capital Partners in London.
The United States has imposed sanctions on some of those involved, according to the report, but it has excluded the crown prince himself in an effort to preserve relations with the Kingdom.
US officials have said they consider canceling arms sales to the Kingdom if it is a human rights issue and may limit future arms deals to only “defensive” weapons. , while Washington reassesses its relations with Saudi Arabia and its role in Yemen. war.
In Dubai, the main index closed up 1%, supported by the 2.6% rise of leader Emaar Properties and the rise of Dubai Islamic Bank of 0.8%.
Dubai’s financial market jumped 6% to become the index’s biggest winner.
Dubai Financial Market said last week that it would revive the normal maximum drop in listed stock prices in a single session, which is ten percent of the February 28 trading session.
The Abu Dhabi index rose 0.6% and Etisalat by 2.2%.
In Qatar, the index rose by 0.3% and Masraf Al Rayan by 1.5%.
Source: Reuters
[ad_2]
Source link
