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Reuters
Gulf stock markets fell back on Tuesday after geopolitical news from Yemen and Qatar that has heavily influenced the bourses for weeks turned negative. Meanwhile, it became clear that the rulers of Qatar and Kuwait were the only two heads of state set to attend an annual summit of Gulf Cooperation Council nations in Kuwait this week.
The United Arab Emirates said it wanted to create a bilateral committee with Saudi Arabia on economic, political and military issues.
The Saudi stock index dropped 0.5 percent after rising for nine straight days. Najran Cement fell back 3.3 percent after soaring along with other cement stocks in the past two days. The Qatari index fell 0.2 percent. Dubai’s index sank 1.1 percent in a broad-based decline; eight of the 10 most heavily traded stocks fell. Egypt’s index fell 0.8 percent as Commercial International Bank slipped 1.3 percent.