Page 213 - SALIK PR REPORT JANUARY 2024

Oil prices - a catalyst for the Gulf's financial markets - rose more than 2% in the first
session of the new year, boosted by potential disruption to Middle Eastern supply after the
latest attack on a container ship in the Red Sea, and by Chinese demand hopes.
U.S. helicopters on Sunday repelled an attack by Iran-backed Houthi forces on a Maersk
container vessel in the Red Sea, sinking three Houthi vessels and killing 10 of the militants,

fuelling risks of the Israel-Hamas war becoming a wider conflict.
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Dubai's main share index (.DFMGI) advanced 0.8%, with toll operator Salik
Co (SALIK.DU) jumping 4.5% and sharia-compliant lender Dubai Islamic
Bank (DISB.DU) finishing 1.4% higher.
The Qatari benchmark (.QSI) retreated more than 1%, snapping an eleven-session winning
streak, weighed down by a 2.8% decline in Qatar Islamic Bank (QISB.QA).

Outside the Gulf, Egypt's blue-chip index (.EGX30) climbed 2.7%, with most of the stocks on
the index in positive territory, including top lender Commercial International
Bank (COMI.CA), which was up 3.1%.

SAUDI ARABIA (.TASI) rose 0.7% to 12,123

ABU DHABI (.FTFADGI) rose 0.1% to 9,588

DUBAI (.DFMGI) gained 0.8% to 4,091

QATAR (.QSI) dropped 1.1.% to 10,708

EGYPT (.EGX30) up 2.7% to 25,502

BAHRAIN (.BAX) declined 0.7% to 1,957

OMAN (.MSX30) added 0.2% to 4,589

KUWAIT (.BKP) was up 1.5% to 7,592
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Reporting by Ateeq Shariff in Bengaluru Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

https://www.reuters.com/world/middle-east/most-gulf-markets-rise-us-rate-cut-bets-qatar-retreats-
2024-01-02/