MIDEAST STOCKS-Gulf markets fall as fresh Houthi strikes on Saudi Arabia raise regional risk

By Reuters News

- Major Gulf stock markets fell in early trade on Thursday as fresh attacks by Yemen's Iran-aligned Houthis on Saudi Arabia fueled fears of a broader regional escalation.

The US State Department has ordered some diplomats and family members to leave its missions in Saudi Arabia. It also plans to pull family members from several other US missions in the region, US officials told Reuters.

The order followed attacks in Saudi Arabia that killed two people and injured eight at a civilian airport in Dammam. A drone strike on an oil field killed two more.

Saudi Arabia's benchmark index .TASI fell 1.2% and was poised for its eighth weekly decline. Saudi National Bank 1180.SE, the country's biggest lender by assets, slid 1.9%, and oil giant Saudi Aramco 2222.SE lost 0.5%.

Riyadh has answered the Houthi attacks with a wave of strikes on missile launcher sites. It has vowed to protect the kingdom and said it has intercepted many of the group's ballistic missiles.

Dubai's main index .DFMGI dropped 0.8%. Top lender Emirates NBD ENBD.DU fell 2.4%, and utility firm Dubai Electricity and Water Authority DEWAA.DU fell 1.5%.

In Abu Dhabi, the index .FTFADGI lost 0.5%.

Tensions also rose in the northern Gulf. Iran's Islamic Revolutionary Guard Corps Navy said four vessels involved in illegal oil transfers were hit simultaneously and caught fire after its forces tracked them on Wednesday.

Meanwhile, Iranian media separately reported explosions of unknown nature and origin in Sirik, in southern Iran.

Qatar's index .QSI retreated 0.8%. Qatar National Bank QNBK.QA, the Gulf's biggest lender, lost 1.1%.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.