Saudi stocks slip after attack on Aramco building; Gulf markets mixed

Business Recorder reported that Gulf share markets moved in different directions on Wednesday, with Saudi stocks sliding after an attack on an Aramco building in Dhahran. The Saudi benchmark lost 0.7%, pulled down by a 1.3% fall in Saudi National Bank, the kingdom's largest lender by assets. Aramco eased 0.5%. The Energy Ministry said a limited fire broke out at the state oil company's administrative building as fighting with the Houthis intensified.

Over the past week, Houthi forces have targeted the kingdom with missiles and drones in response to Riyadh's backing of Yemeni government forces. Four strikes have reached the airport in the Saudi capital, one of them on Saturday and killing 13 people. The latest incident left four people injured and 15 homes damaged, with intercepted-missile fragments landing in Riyadh, according to the Saudi Press Agency citing a Civil Defense spokesperson.

In Qatar the index lost 0.4% as Industries Qatar, a petrochemical producer, declined 1.4%, while Dubai's main index edged up 0.1% and Abu Dhabi's gained 0.3%. Two senior Iranian officials told Reuters that Tehran has adopted fresh methods against vessels in the Strait of Hormuz, with the aim of keeping oil prices high and shaping the US midterm elections.