Page 254 - ALEF EDUCATION PR REPORT - JUNE 2024

The Abu Dhabi benchmark index fell marginally, with Emirate's largest developer
Aldar Properties losing 1.3% while Multiply Group and Alef Education gained 2.1%
and 4.3%, respectively.

Saudi Arabia's benchmark stock index was up 0.1%, lifted by gains in finance and
industry stocks. Saudi National Bank, the kingdom's largest lender, rose 1.9% and
ADES Holding added 1.6%. However, ACWA Power and oil major Saudi Aramco

slipped 2.5% and 0.5%, respectively.

The Qatari benchmark index was up 0.2%, helped by gains in most sectors, led by

communications services and utilities and with Qatar Electricity and Water Co rising
1.1%.

Ooredo advanced 1.5% after Nvidia signed a deal to deploy its artificial intelligence
technology at data centres owned by the Qatari telecom group.

In the U.S., the personal consumption expenditures (PCE) price index is due on
Friday. A soft data would likely reinforce market bets on a U.S. rate cut as early as
September.

Most Gulf currencies are pegged to the dollar, and any U.S. monetary policy change
is usually followed by Saudi Arabia, the United Arab Emirates and Qatar.

(Reporting by Md Manzer Hussain; Editing by Mrigank Dhaniwala)

ZAWYA: Mideast Stocks: Gulf markets mixed in early trade; U.S inflation data in focus