DUBAI: Stock markets in the Gulf ended mixed on Thursday, with most posting weekly losses amid geopolitical tensions in the Middle East and traders awaiting economic data for insights into the US Federal Reserve’s policy path.
The killing of senior members of militant groups Hamas and Hezbollah last week raised the possibility of retaliatory strikes by Iran against Israel, further fuelling concerns over oil supply from the world’s largest producing region.
Hamas leader Ismail Haniyeh was assassinated in the Iranian capital Tehran last week, an attack that drew threats of revenge on Israel and fuelled further concern that the conflict in Gaza was turning into a wider Middle East war.
Saudi Arabia’s benchmark index dropped 0.5%, with aluminium products manufacturer Al Taiseer Group losing 1.3% and ACWA Power Company falling 1.7%.
The Saudi index posted a weekly loss of 3.1%.
Dubai’s main share index ended Thursday flat.
Among gainers, blue-chip developer Emaar Properties advanced 1.1%, after reporting a rise in first-half net-profit.
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