Saudi Arabia's benchmark stock index pared early losses to close 0.15% lower Sunday, and Saudi Aramco slipped 0.2%, after Saturday's attack on Riyadh's airport killed at least 12 people.
Key Points:
- The Tadawul All Share Index ended at 10,360.74 after falling about 1% in early trade, with 151 stocks down and 107 up.
- Qatar's benchmark dropped 1.45% to its lowest close since May 2020, and Egypt's EGX 30 lost 2%.
- Bitcoin held near $83,000 early Sunday, while Brent crude last settled above $104 a barrel on Friday.
Saudi Aramco Shares
The Tadawul All Share Index closed at 10,360.74, down 15.54 points, after falling about 1% in early trade. Decliners outnumbered gainers 151 to 107 on turnover of 2.69 billion riyals ($718 million). Aramco, down 0.6% earlier in the session, ended 0.2% lower, while Saudi National Bank, the kingdom's largest lender by assets, lost 1.1%.
Selling ran deeper elsewhere in the region. Qatar's index dropped 1.45% to 8,874.73, its fourth straight decline and lowest close since May 2020, with 38 stocks down and nine up, while Egypt's EGX 30 lost 2% as every constituent fell.
Saudi civil aviation authorities said Saturday's strike on King Khalid International Airport also wounded more than 300 people, and flight-tracking data showed the closure extended until at least 9 p.m. Sunday.
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Milad Azar View
Traders were already uneasy over stalled U.S.-Iran talks and reports of shipping disruptions near the Strait of Hormuz, according to Milad Azar of XTB MENA. President Donald Trump added to the uncertainty Saturday, when he said the U.S. "may" join Saudi strikes on Yemen's Houthis and would "move very quickly."
The Houthis warned airlines, travelers and airport workers Sunday to stay away from Saudi airports, sparing only those serving Mecca and Medina. Saudi Arabia blames the Iran-backed group for the attack. The conflict is a spillover from the wider war that began with U.S. and Israeli strikes on Iran in late February.
Bitcoin (BTC), one of the few assets trading through the weekend, held near $83,000 early Sunday with little immediate reaction. Brent crude last settled above $104 a barrel Friday, before the attack.
Houthi Attack History
Saturday's strike was the third on Riyadh's airport in a week and the deadliest attack in the kingdom in more than a decade. Saudi shares traced a similar path Sept. 20, when the index pared early losses to close 0.3% lower at 10,750 after Houthi-claimed strikes on the capital. It has lost about 3.6% since.
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