Stock markets in the Gulf ended mixed on Thursday, with most posting weekly losses amid geopolitical tensions in the Middle East and traders awaiting economic data for insights into the US Federal Reserve's policy path, reports Reuters.
The killing of senior members of militant groups Hamas and Hezbollah last week raised the possibility of retaliatory strikes by Iran against Israel, further fuelling concerns over oil supply from the world's largest producing region.
Hamas leader Ismail Haniyeh was assassinated in the Iranian capital Tehran last week, an attack that drew threats of revenge on Israel and fuelled further concern that the conflict in Gaza was turning into a wider Middle East war.
Saudi Arabia's benchmark index dropped 0.5 per cent, with aluminium products manufacturer Al Taiseer Group losing 1.3 per cent and ACWA Power Company falling 1.7 per cent.
The Saudi index posted a weekly loss of 3.1 per cent.
Dubai's main share index ended Thursday flat.
Among gainers, blue-chip developer Emaar Properties advanced 1.1 per cent, after reporting a rise in first-half net-profit.
In Abu Dhabi, the index gained 0.8 per cent, led by a 1.2 per cent rise in conglomerate International Holding.
After trading hours in the region, US figures showed there were 233,000 initial jobless claims last week, below the 240,000 expected by economists and down from 250,000 the week before. The data has taken on extra significance after weak employment numbers helped spark a market rout on Monday.
Markets see a 72 per cent chance of the Fed cutting interest rates by 50 basis points in September, up from 70 per cent on Monday, according to the CME FedWatch Tool, with an additional cut anticipated in December.
Monetary policy in the six-member Gulf Cooperation Council is usually guided by the Fed's decisions, as most regional currencies are pegged to the US dollar.
The Qatari benchmark eased 0.2 per cent, with Qatar Islamic Bank losing 0.5 per cent.
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