Dubai, July 18 (SANA) Most Gulf stock markets ended the trading week lower as rising military tensions between the United States and Iran weighed on investor sentiment following a new round of U.S. strikes on Iranian military targets.
Saudi Arabia’s benchmark Tadawul All Share Index (TASI) gained 0.15% in the final session of the week, supported by banking and energy stocks, but ended the week down 0.8% for its fourth consecutive weekly decline, Reuters reported on Saturday.
In Kuwait, the Premier Market Index rose 0.07% in the last trading session of the week but closed the week 0.2% lower. The Main Market Index gained 1%.
In the United Arab Emirates, Abu Dhabi’s benchmark index fell 1.6% on a weekly basis, while Dubai’s main index dropped 3.8%, marking its biggest weekly decline in four months amid pressure on real estate and banking stocks.
Earlier on Saturday, the U.S. Central Command (CENTCOM) said it had conducted a new round of air, land and naval strikes against targets in Iran, marking the seventh consecutive night of attacks, following repeated Iranian strikes on vessels in the Strait of Hormuz.
N.J/ABD
