Page 402 - SALIK ENGLISH PR REPORT NOVEMBER 2024

11/7/24, 3:20 PM Mideast Stocks: Most Gulf markets gain on Trump's presidential win
Hashad, chief market strategist, at Noor Capital said.

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Saudi's Al Rajhi Bank rose 2.3% and Saudi Arabian Mining Company closed 4.1% higher, while Saudi

Electricity Co jumped 6.3%, following a steep rise in quarterly net profit.

The biggest mover in Dubai was toll operator Salik Company, which gained 2.5%, while sharia-compliant
lender Dubai Islamic Bank gained 1.2%, a day after reporting a rise in third-quarter profit.

In Abu Dhabi, conglomerate International Holding rose 0.8% ahead of its earnings
announcement.However, crude prices - a catalyst for the Gulf's financial markets - fell as the U.S. dollar
rallied on Trump's win.Investors believe a Trump presidency will bolster the dollar as interest rates may

need to remain high to combat inflation resulting from any new tariffs.

Outside the Gulf, Egypt's blue-chip index gained 0.8%, with Fawry For Banking Technology Electronic
Payments rising 3.2%.

Egypt's net foreign reserves rose to $46.942 billion in October from $46.737 billion in September, the

central bank said on Wednesday.

SAUDI ARABIA rose 0.7% to 12,093
ABU DHABI rose 0.4% to 9,425
DUBAI gained 0.5% to 4,616
EGYPT up 0.8% to 31,045

BAHRAIN finished flat at 2,020
OMAN eased 0.2% to 4,714
KUWAIT added 0.6% to 7,716

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