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Gulf equities mixed as Saudi energy, shipping security concerns weigh
Gulf stock markets were mixed on Monday as investors weighed escalating attacks on Saudi Arabia’s energy infrastructure and key shipping routes. Saudi Arabia’s benchmark index reversed early losses to edge 0.1% higher, with Al Rajhi Bank rising 1.8%. Arabian Drilling gained 3%, after securing a five-year gas-drilling contract worth about 2 billion riyals ($532.5 million). However, oil major Saudi Aramco lost 0.2%, while Saudi Arabian Mining Company and Saudi Basic Industries Corp declined 1.5% and 1.9%, respectively. Elsewhere, Riyadh Cement plunged 4.9%, becoming the top loser on the index, a...
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