Most Middle Eastern equity markets dropped on Sunday amid an increase in geopolitical tensions after Iran seized a British oil tanker in the Strait of Hormuz.
Saudi Telecom finishes down 0.2%, trimming losses of as much as 2%, after the country’s telecom watchdog imposed more than 18m riyals in fines on the three main telecoms operators for violation regulations.
Also in Riyadh, Yanbu National Petrochemical falls 2.5% after posting 2Q profit that missed the lowest analyst estimate. It closed at the lowest level since December. 2017.
Kuwait’s main index retreats 1.2%, trimming gains this month to 4.5%.
Indexes in Dubai, Bahrain, Qatar and Egypt decline as much as 0.9%, while those in Abu Dhabi and Oman increase as much as 0.6%.
