Saudi Stocks Fall Most in Mideast on U.S. Sanctions
Saudi Stocks Fall Most in Mideast on U.S. Sanctions
(Bloomberg) -- Saudi Arabian stocks declined the most in a month after the U.S. sanctioned 17 officials over the death of U.S.-based journalist Jamal Khashoggi.
The Tadawul All Share Index retreated 2.2 percent at the close in Riyadh. The yield on the kingdom’s $5 billion bonds due 2028 climbed to a record 4.6 percent last week.
The U.S. announcement came hours after the kingdom charged 11 people for the murder, saying it will seek the death penalty for five who confessed. Among the officials sanctioned by the U.S. was Saud al-Qahtani, a senior adviser to Crown Prince Mohammed bin Salman before King Salman removed him after the killing.
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MIDDLE EASTERN MARKETS:
- Saudi stock gauge drops as 167 equities slide
- NCB -3.5%, Sabic -0.7%, and Saudi Telecom -3.1%
- READ: Congress Would Block Any Weapons Sale to Saudi Arabia: Corker
- Egypt EGX 30 Index increases for a second day, adding 2.1% to the highest level in more than a month. 25 of the index’s 30 members climb
- READ: EGYPT REACT: Inflation Rise Keeps Central Bank Rates on Hold
- Israel’s TA-35 Index adds 0.4% at 2:35 p.m., led by Nice’s 3.1% gain and Elbit’s 1.6% advance
- Stocks in Qatar climb 0.8% and those in Bahrain 0.1%, while equities in Kuwait slip 0.2% and Omani shares are little changed
To contact the reporter on this story: Dana El Baltaji in Dubai at delbaltaji@bloomberg.net
To contact the editor responsible for this story: Justin Carrigan at jcarrigan@bloomberg.net
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