Page 319 - SALIK PR REPORT AUGUST 2024

8/13/24, 11:18 AM Mideast Stocks: Most Gulf markets gain ahead of US data

Among other gainers, Parkin <PARKIN.DU>, which oversees public parking operations, advanced 2.5%

after reporting a rise in quarterly profit.

The Qatari benchmark <.QSI> added 0.2%, helped by a 0.9% increase in the Gulf's biggest lender by
assets Qatar National Bank <QNBK.QA>.

Saudi Arabia's benchmark index <.TASI> eased 0.3%, weighed by a 1.3% slide in aluminium products

manufacturer Al Taiseer Group <4143.SE>.

The Saudi stock market continued to trade sideways after a rebound. However, the market could remain
exposed to the downside if US recession fears return, said Hani Abuagla Senior Market Analyst at XTB
MENA.

"A stronger rebound in oil prices could drive the stock market to the upside."

Oil prices - a catalyst for the Gulf's financial markets - inched up, having bounced 3.5% last week as

fears of a widening Middle East conflict threatened supplies.

In Abu Dhabi, the index <.FTFADGI> declined 1%.

China issues figures on retail sales and industrial production on Thursday, which are expected to show
the economy continuing to underperform, potentially exacerbating some investors' fears about global
growth.

Outside the Gulf, Egypt's blue-chip index <.EGX30> finished 0.6% higher, with Commercial International
Bank Egypt <COMI.CA> gaining 1.6%.

SAUDI ARABIA<.TASI> fell 0.3% to 11,741

ABU DHABI <.FTFADGI> lost 1% to 9,215

DUBAI
<.DFMGI> gained 0.2% to 4,201
QATAR
<.QSI> gained 0.2% to 10,094

EGYPT
<.EGX30> up 0.6% to 29,707

BAHRAIN <.BAX> was up 0.2% to 1,936

OMAN <.MSX30> rose 0.6% to 4,686

KUWAIT <.BKP> dropped 0.8% to 7,685

https://www.zawya.com/en/markets/equities/mideast-stocks-most-gulf-markets-gain-ahead-of-us-data-y7djoy9z 2/3