Saudi Shares Fall After Second Airport Attack as Gulf Trade Stays Cautious
Saudi Arabia's benchmark index dropped 0.6%, with Al Rajhi Bank losing 0.6% and oil major Saudi Aramco down 0.3%
Most Gulf markets crept higher in early Monday trade, with investors holding back from big bets due to uncertainty over the US-Iran conflict, while Saudi stocks retreated after a fresh attack weighed on sentiment.
The attack on Riyadh's international airport on Sunday left one person dead and nearly a dozen injured, according to Saudi authorities. The day before, a Houthi-claimed strike had killed 13 people and wounded more than 300.
Saudi Arabia's benchmark index dropped 0.6%, with Al Rajhi Bank losing 0.6% and oil major Saudi Aramco down 0.3%.
There was little sign of a diplomatic breakthrough in the US-Iran standoff over the Strait of Hormuz.
State media on Sunday quoted Iran's security chief, Mohsen Rezaei, as saying the US had given an "insufficient" response to Tehran's seven conditions for reopening the vital waterway.
The attacks also affected a major oil industry event in the kingdom, with a company spokesperson saying on Sunday BP's CEO would not attend the World Petroleum Council Energy Congress in Riyadh.
The Saudi energy ministry said the five-day conference went ahead as scheduled at a convention centre around 10 km (6.2 miles) from the targeted airport.
Dubai's main share index inched 0.1% higher, while the Abu Dhabi index added 0.1%.
In Qatar, the index rose 0.5%, poised to claw back some of the 1.5% it lost in the prior session.