Page 256 - ALEF EDUCATION PR REPORT - JUNE 2024

Saudi Arabia's benchmark stock index (.TASI), opens new tab was up 0.1%, lifted by
gains in finance and industry stocks. Saudi National Bank (1180.SE), opens new tab, the
kingdom's largest lender, rose 1.9% and ADES Holding added 1.6%. However, ACWA
Power (2082.SE), opens new tab and oil major Saudi Aramco (2222.SE), opens new
tab slipped 2.5% and 0.5%, respectively.

The Qatari benchmark index (.QSI), opens new tab was up 0.2%, helped by gains in most
sectors, led by communications services and utilities and with Qatar Electricity and
Water Co (QEWC.QA), opens new tab rising 1.1%.

Ooredo (ORDS.QA), opens new tab 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

REUTERS: Gulf markets mixed in early trade; U.S inflation data in focus