Page 168 - SALIK PR REPORT JANUARY 2024

1/15/24, 10:18 AM UAE shares dip on escalating Mideast conflict — TradingView News
UAE shares dip on escalating

Mideast conflict

Jan 12, 202415:53 GMT+4

FADGI −0.01% IHC 0 YU77 DFMGI −0.08%

Stock markets in the United Arab Emirates ended lower on Friday amid

rising tensions in the Middle East as the United States and Britain launched
strikes against Houthi military targets in Yemen.

In Abu Dhabi, the index FADGI was down 0.5%, ending its five-sessions

winning streak, while weekly gains hit over a two-month high.

The conglomerate International Holding Company IHC dropped 0.7%,

and the UAE's largest lender, First Abu Dhabi Bank YU77 slipped 2%, the

sharpest decline in over two months.

Dubai's benchmark index DFMGI 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 SALIK lost 1.5%, and Tecom Group

TECOM 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.

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