The stock exchanges in the Middle East fell sharply on Sunday in the wake of the escalated conflict between Israel and Iran, reports Dagens industri.
The index on the stock exchange in Egypt fell by 4.6 percent, in Kuwait by 3.4 percent, in Qatar by just over 3 percent and in Saudi Arabia by 1 percent. The relatively moderate decline in Riyadh is explained by the fact that the index-heavy oil giant Saudi Aramco rose by 1.8 percent – a result of a rising crude oil price.
An exception was the Israeli stock exchange. The index in Tel Aviv rose by 0.5 percent thanks to a sharp increase in the arms manufacturer Elbit.
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