Page 166 - SALIK PR REPORT JANUARY 2024

1/15/24, 10:15 AM Mideast Stocks: UAE shares dip on escalating Mideast conflict

Dubai's benchmark index ended 0.3% lower, extending the previous sessions' losses with almost all
sectors in the negative territory, while it gained 0.4% on a weekly basis.

The tolls operator Salik Company lost 1.5%, and Tecom Group slid 1.4%.

"The Dubai stock market recorded a slightly positive week and remained on an uptrend overall", said

Ahmed Negm, Head of Market Research MENA at XS.com.

"However, the main index saw some price corrections as traders reacted to increasing geopolitical
tensions and could continue to see some downside risks".

U.S. and British warplanes, ships and submarines struck across Yemen overnight in retaliation against
Iran-backed Houthi forces for attacks on Red Sea shipping, a widening of regional conflict triggered by

Israel's war in Gaza.

ABU DHABI dropped 0.5% to 9,791
DUBAI lost 0.3% to 4,104

(Reporting by Md Manzer Hussain; Editing by Tasim Zahid)

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