Page 315 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/15/24, 1:34 PM Mideast Stocks: Most Gulf markets gain in early trade; Saudi falls
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Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by the Fed's
decisions, as most regional currencies are pegged to the U.S. dollar.

Dubai's main share index .DFMGI added 0.2%, with blue-chip developer Emaar
Properties EMAR.DU advancing 1.3%. Toll operator Salik SALIK.DU gained 1.1% after reporting a

higher third-quarter net profit.

In Abu Dhabi, the index .FTFADGI rose 0.4%, with conglomerate International Holding IHC.AD climbing
1%.

However, Lulu Retail Holdings LULU.AD - Middle East's biggest hypermarket chain operator - dropped
2.5% in market debut.

The Qatari index .QSI was up 0.4%, with petrochemical maker Industries Qatar IQCD.QA gaining 1.3%.

Saudi Arabia's benchmark index .TASI fell 0.9%, weighed down by a 4% slide in Acwa Power
Company 2082.SE, whereas Saudi Telecom Company (STC) 7010.SE retreated more than 3%.

The kingdom's sovereign wealth fund PIF has raised 3.86 billion riyals ($1.03 billion) from selling a 2%
stake in telecoms firm STC, PIF said on Thursday, as it seeks to raise funds for the Gulf country's

economic diversification programme.

($1 = 3.7570 riyals)

(Reporting by Ateeq Shariff in Bengaluru; Editing by Eileen Soreng)

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