MIDEAST STOCKS-Most Gulf bourses in red after Houthis claim attacks on Saudi energy, airport sites

By Reuters News

By Ateeq Shariff

- Most Gulf stock markets closed lower on Tuesday after Yemen's Iran-aligned Houthis claimed attacks on Saudi energy, airport and military targets on Monday, while Egypt's index bucked the trend after parliament delayed a vote on authorising military support for Riyadh.

The group said it hit an Aramco site in Yanbu, the Shaybah oilfield, and the Riyadh and Abha airports.

Saudi authorities did not immediately confirm the claims and Reuters could not independently verify them.

Saudi air travel is already under severe strain with more than 45% of departures from the kingdom's airports cancelled since October 8, according to aviation analytics firm Cirium.

Saudi Arabia's benchmark index .TASI dropped 1.7%, dragged down by a 4.7% slide in Saudi Arabian Mining Company 1211.SE and a 1.2% decrease in oil giant Saudi Aramco 2222.SE.

Saudi Arabia, rocked by deadly attacks in recent weeks as the Middle East conflict widens, postponed its flagship investment conference on Monday until next year, organizers said.

Separately, a Houthi attack on a training camp for government security forces in Yemen's Shabwa province killed 58 people and injured more than 200 on Monday.

In Qatar, the index .QSI dipped 0.4% to 8,598, its lowest level in over six years, with Qatar National Bank QNBK.QA — the Gulf's biggest lender — retreating 0.7%.

GCC stocks came under pressure as traders kept a cautious eye on geopolitical developments. The absence of diplomatic progress is fueling doubts over any quick de-escalation or improvement in regional security, and the uncertainty could keep risk appetite subdued in the near term, said Ranim Turfa, head of research & market analysis MENA at Tickmill.

"At the same time, economic resilience and robust business activity could limit the declines in some markets."

Meanwhile, Brent crude futures rose to $111.75 a barrel, the highest since May, and as of 1120 GMT were trading at $111.20, up $1.65 or 1.5%. O/R

Dubai's main share index .DFMGI eased 0.3%, with sharia-compliant lender Dubai Islamic Bank DISB.DU losing 0.7%.

The Abu Dhabi index .FTFADGI, however, bucked the trend to close 0.5% higher.

Outside the Gulf, Egypt's blue-chip index .EGX30 advanced 1.9%, as most of its constituents were in positive territory including Talaat Moustafa Group Holding TMGH.CA, which was up 4.2%.

Egypt's parliament has delayed until October 26 a vote on allowing the armed forces to back Saudi Arabia if asked, prolonging debate over a deeper role in the conflict with Yemen's Houthis.

Saudi Arabia

.TASI dropped 1.7% to 9,952

Abu Dhabi

.FTFADGI gained 0.5% to 9,829

Dubai

.DFMGI lost 0.3% to 5,835

Qatar

.QSI declined 0.4% to 8,598

Egypt

.EGX30 advanced 1.9% to 52,089

Bahrain

.BAX eased 0.2% to 1,860

Oman

.MSX30 retreated 1.1% to 7,552

Kuwait

,.BKP was down 0.2% to 8,826

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