June 13, 2019 / 1:24 PM / 7 days ago

MIDEAST STOCKS-Saudi leads Gulf lower after attacks on tankers

    * 10 of 12 Saudi banks drop
    * Saudi ends five days of gains
    * 22 of 23 Dubai stocks slide
    * Real estate shares lift Egypt

    By Ateeq Shariff
    June 13 (Reuters) - The Saudi Arabian stock market snapped a
five-day winning streak as attacks on tankers in the Gulf of
Oman dampened investor sentiment in the region, while all major
Gulf markets also declined.
    Two oil tankers were attacked in the Gulf of Oman on
Thursday, leaving one ablaze and both adrift, shipping firms
said, driving oil prices as much as 4% higher over worries about
Middle East supplies.
    Thursday's attacks were the second in a month near the
Strait of Hormuz, a major strategic waterway for world oil
supplies. 
    The United States and Saudi Arabia blamed Iran for limpet
mine attacks in May on four tankers off the coast of the United
Arab Emirates, a charge Tehran denies.
    Saudi's share index fell 1.6% with 10 stocks
declining for every one gaining. Al Rajhi Bank slid
1.9% and heavyweight petrochemical maker Saudi Basic Industries
 shed 2.2%.
    The index is still up over 14% year-to-date, outperforming
its major Gulf peers in a rally led by foreign investors.
    In Dubai, the index was down 1.2% with 22 of its
stocks declining and one rising. Emaar Properties
closed 1.5% lower, while Dubai Islamic Bank lost 1.4%.
    In Qatar, a 2.4% drop in lender Masraf Al Rayan
and a 1.9% fall in Qatar Fuel pushed the index
1% lower.
    The Abu Dhabi index slipped 0.5% with Abu Dhabi
Commercial Bank dropping 2.4% and Aldar Properties
 retreating 3.7%.
    Egypt's blue-chip index edged up 0.2%, helped by
Sixth Of October Development and Investment which
gained 5.8%.    
    
 SAUDI ARABIA  The index         declined 1.6% to 8,942 points
 ABU DHABI     The index        slid 0.5% to 4,964 points
 DUBAI         The index          fell 1.2% to 2,633 points
 QATAR         The index        lost 1% to 10,516 points
 EGYPT         The index          added 0.2% to 14,181 points
 BAHRAIN       The index        edged down 0.1% to 1,449 points
 OMAN          The index        was down 1.1% at 3,918 points
 KUWAIT        The index        decreased 1% to 6,391 points
 
    

 (Reporting by Ateeq Shariff in Bengaluru; Editing by Kirsten
Donovan)
  
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