Page 271 - SALIK ENGLISH PR REPORT NOVEMBER 2024

P. 271

11/26/24, 2:23 PM Mideast Stocks: Major Gulf markets gain in early trade; Saudi falls
ADVERTISING

The Abu Dhabi index .FTFADGI was up 0.4%.

In Qatar, the index .QSI added 0.3%, with Qatar Islamic Bank QISB.QA rising 0.9% and petrochemical
maker Industries Qatar IQCD.QA up 0.5%.

MSCI's broadest index of Asia-Pacific shares .MIAP00000PUS rose following U.S. President-elect

Donald Trump's selection of fund manager Scott Bessent as the next U.S. Treasury secretary, with
investors expecting he will be a voice for markets in Washington.

Saudi Arabia's benchmark index .TASI dropped 0.5%, weighed down by a 1.5% fall in Al Rajhi
Bank 1120.SE and a 1.7% decline in Saudi Arabian Mining Company 1211.SE.

Oil prices - a catalyst for the Gulf's financial markets - retreated following 6% gains last week, but
remained near two-week highs as geopolitical tensions grew between Western powers and major oil

producers Russia and Iran, raising risks of supply disruption.

Saudi Arabia's energy index .TENI eased 0.2%.

(Reporting by Ateeq Shariff in Bengaluru, Editing by Bernadette Baum)