Investor caution sends most Gulf markets lower

RIYADH: Most Gulf stock markets were subdued on Sunday as escalating geopolitical concerns and worries over US tariffs and their potential impact on the global economy led investors to exercise caution and retreat from riskier investments.

Saudi Arabia’s benchmark index fell 0.6 per cent, with Al Rajhi Bank and the country’s biggest lender, Saudi National Bank each losing 1.6 per cent.

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In Qatar, the index retreated by 0.7 per cent, with Commercial Bank down 7.1 per cent as it traded ex-dividend.

Outside the Gulf, Egypt’s blue-chip index gained 0.8 per cent, with most of its constituents in positive territory, including a 3.7 per cent gain for Commercial International Bank.