Page 108 - SALIK PR REPORT OCTOBER 2024

10/17/24, 2:23 PM Major Gulf markets gain ahead of earnings; regional conflict, oil limit gains - Markets - Business Recorder
Among other gainers, Arabian Internet And Communications Services advanced 1.6% after

the firm signed a 309.7 million riyals ($82.49 million) contract with Saudi Telecom
Company (STC).

Most Gulf markets gain ahead of earnings

STC shares eased 0.2%.

Oil prices were steady after steep declines in the previous session as investors contend
with uncertainty around war in the Middle East and what it means for global supply.

Dubai’s main share index added 0.3%, with blue-chip developer Emaar Properties and toll

operator Salik each gaining 0.7%.

In Abu Dhabi, the index added 0.1%, helped by a 5.1% jump in Fertiglobe.

Fertiglobe - the largest producer of nitrogen fertilisers in the Middle East and North Africa
- expects to more than double its net ammonia production capacity as it integrates

ADNOC’s portfolio of low carbon ammonia projects following the energy giant’s purchase

of a majority stake in the fertiliser maker on Tuesday.

The Qatari benchmark index rose 0.3%, with Qatar Islamic Bank increasing 0.9%.

Qatar will hold a rare referendum for citizens to vote on a set of constitutional
amendments, including a proposal that would abandon an effort to introduce elections, its

emir said on Tuesday.

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