Saudi stocks fall 0.3% after Houthi claims of Riyadh strikes

  • Saudi Arabia's benchmark index closed lower after Houthi claims of missile and drone strikes on Riyadh.
  • Saudi stocks fell 0.3% to 10,750, led by a 2.8% drop in ACWA Power.
  • All Gulf bourses ended lower, while Egypt's blue-chip index declined 0.2%.

Saudi Arabia's benchmark stock index fell 0.3% to 10,750 on Sunday, a day after Yemen's Houthis said they had struck sensitive targets in Riyadh with missiles and drones. All Gulf bourses closed lower, with Qatar's index declining 1.1% to 9,550 and Kuwait's falling 0.7% to 9,182. Flames and thick smoke were seen near Riyadh's main airport after overnight alerts warned of potential danger around the capital. The confrontation has added another front to the broader conflict that followed US and Israeli strikes on Iran in late February. President Donald Trump has reportedly rejected Saudi requests for direct US military intervention against the Houthis. Investor attention is now focused on US President Donald Trump's meeting with Gulf leaders this week, while China has privately urged Tehran to restrain the Iran-aligned Houthis after an appeal from Saudi Arabia.

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