Most Gulf markets fall as geopolitical tensions in region climb
By Ateeq Shariff
Oct 6 (Reuters) -Most stock markets in the Gulf ended lower on Sunday on concerns that rising geopolitical tensions will lead to wider conflict in the region, with the Saudi index hitting its lowest in nearly a month.
Israeli air attacks battered Beirut's southern suburbs overnight and early on Sunday, the most intense bombardment of the Lebanese capital since Israel sharply escalated its campaign against Iran-backed group Hezbollah last month.
On Friday, Iran's Supreme Leader Ayatollah Ali Khamenei appeared in public for the first time since his country launched the missile attack. He called for more anti-Israel struggle.
The semi-official Iranian news agency SNN quoted Revolutionary Guards deputy commander Ali Fadavi as saying Iran will target Israeli energy and gas installations if Israel attacks it.
Saudi Arabia's benchmark index .TASI dropped 1.6%, touching its lowest since Sept. 11, weighed down by a 5.1% slide in Al Taiseer Group 4143.SE and a 4.8% decline in Al Rajhi Bank 1120.SE.
The Qatari index .QSI lost 0.5%, with Qatar Fuel Company QFLS.QA retreating 2.3%.
** Egypt was closed for a public holiday
SAUDI ARABIA | .TASI fell 1.6% to 11,769 |
QATAR | .QSI dropped 0.5% to 10,412 |
BAHRAIN | .BAX eased 0.1% to 2,004 |
OMAN | .MSX30 added 0.2% to 4,681 |
KUWAIT | .BKP down 1.1% to 7,501 |
Reporting by Ateeq Shariff in Bengaluru; Editing by Hugh Lawson
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