By Ateeq Shariff
Oct 17 (Reuters) - Stock markets in the Gulf ended lower
on Thursday as investors await more third-quarter earnings amid
escalating geopolitical tensions in the region and softening oil
prices.
Lately the markets have been under pressure on worries that
Israel would attack Iran in retaliation for the latter's Oct. 1
missile strike.
Russia is warning Israel to not even consider striking
Iranian nuclear facilities, state news agency TASS quoted Deputy
Foreign Minister Sergei Ryabkov as saying on Thursday.
The statement was attached to a Washington Post article
which said Netanyahu had told President Joe Biden's
administration that Israel would strike Iranian military
targets, not nuclear or oil targets.
Saudi Arabia's benchmark index dropped 1.1%, with
aluminium products manufacturer Al Taiseer Group
losing 1.8% and Al Rajhi Bank sliding 2.9%.
The kingdom's crude oil exports in August fell to their
lowest level in a year, data from the Joint Organizations Data
Initiative (JODI) showed on Thursday.
Among other fallers, oil giant Saudi Aramco eased
0.4%.
Oil prices - a catalyst for the Gulf's financial markets -
were broadly flat as investors waited on developments in the
Middle East, the release of official U.S. oil inventory data and
details on China's stimulus plans.
Dubai's main share index dropped 0.6%, with top
lender Emirates NBD declining 2.7% after reporting a
flat third-quarter net profit, as an increase in net interest
income was offset by higher impairment charges and investments
to drive future growth.
In Abu Dhabi, the index lost 0.3%, weighed down
by a 1.8% drop in the United Arab Emirates' biggest lender First
Abu Dhabi Bank ahead of its earnings announcement.
The Qatari index finished flat, with Commercial Bank
retreating 2.2% after the lender posted a mere 2.6%
increase in nine-month net profit.
Outside the Gulf, Egypt's blue-chip index concluded
1.3% lower, with tobacco monopoly Eastern Company ( EML )
tumbling 6.3%.
SAUDI ARABIA fell 1.1% to 11,907
ABU DHABI lost 0.3% to 9,277
DUBAI dropped 0.6% to 4,459
QATAR declined 2% to 10,733
EGYPT lost 1.3% to 30,143
BAHRAIN eased 0.1% to 2,000
OMAN slipped 0.3% to 4,800
KUWAIT down 0.6% to 7,577