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11/7/24, 3:21 PM Newswire - MIDEAST STOCKS-Major Gulf markets gain as Trump claims victory
MIDEAST STOCKS-Major Gulf markets gain as

Trump claims victory

| Wed, 06 Nov 2024 04:39:21 GMT

Nov 6 (Reuters) – Major stock markets in the Gulf rose in early trade on Wednesday as Republican
Donald Trump claimed victory in the U.S. presidential election.
Fox News projected that Trump had defeated Democrat Kamala Harris, which would cap a stunning
political comeback four years after he left the White House.
Saudi Arabia’s benchmark index gained 0.9%, with Al Rajhi Bank rising 2.1% and Saudi Arabian
Mining Company advancing 3.9%.
Among other gainers, Saudi Electricity jumped 5.9% after reporting sharp rise in third-quarter net
profit.
Dubai’s main share index gained 0.5%, with toll operator Salik Company climbing 1.9%.
The United Arab Emirates has launched a strategy to triple foreign direct investment to 2.2 trillion
dirhams by 2031, Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, also the ruler of Dubai,
said in a post on X on Tuesday.
In Abu Dhabi, the index added 0.1%.
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Crude prices fell as much as 2% after two sessions of gains, as the dollar surged on projections of a
Trump victory, and as U.S. crude stocks rose more than forecast.
** Qatari bourse was closed for a public holiday.
(Reporting by Ateeq Shariff in Bengaluru Editing by Ros Russell)
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