MIDEAST STOCKS — Gulf shares slip on regional uncertainty, shipping concerns
Sept 24 (Reuters) — Major Gulf equity markets fell in early trade on Thursday as little progress in US-Iran diplomacy and persistent risks to Strait of Hormuz shipping unsettled investors. Concerns mounted after Mohsen Rezaei, secretary of Iran's Supreme National Security Council, warned in a state television interview on Wednesday that, should neighbouring countries cooperate with Washington to halt Iranian flights, Tehran would ensure that their airports "cannot function." Despite continued diplomatic engagement, divisions between Tehran and Washington over ending the conflict remain substantial. A senior Iranian official told Reuters on Wednesday that diplomacy must continue, even as Iran's president told the UN General Assembly that the country would not yield to US pressure. Geopolitical uncertainty continued to disrupt shipping through the Strait of Hormuz, where 10 commodity vessels transited on Wednesday, up from seven a day earlier but well below the 10-day average of about 17. Saudi Arabia's benchmark index eased 0.1%, hit by a 1% slide in Al Rajhi Bank. Dubai's main share index was down 0.2%, with top lender Emirates NBD losing 0.7%. In Abu Dhabi, the index fell 0.1%. Me
Sept 24 (Reuters) — Major Gulf equity markets fell in early trade on Thursday as little progress in US-Iran diplomacy and persistent risks to Strait of Hormuz shipping unsettled investors. " Despite continued diplomatic engagement, divisions between Tehran and Washington over ending the conflict remain substantial. A senior Iranian official told Reuters on Wednesday that diplomacy must continue, even as Iran's president told the UN General Assembly that the country would not yield to US pressure.
Geopolitical uncertainty continued to disrupt shipping through the Strait of Hormuz, where 10 commodity vessels transited on Wednesday, up from seven a day earlier but well below the 10-day average of about 17. 1%, hit by a 1% slide in Al Rajhi Bank. 7%. 1%.
Meanwhile, the UAE central bank on Wednesday suspended Iran's Bank Melli from operating in the country, underscoring deteriorating ties between the two nations since the US war on Iran began in February. 4%. com; +918061822788)