Page 112 - SALIK PR REPORT OCTOBER 2024

10/9/24, 11:18 AM Major Gulf bourses edge higher, Arabian Mills jump on debut — TradingView News
Major Gulf bourses edge

higher, Arabian Mills jump on

debut

Oct 8, 202408:32 UTC

TASI +0.10% 2082 +0.32% 1180 0 DFMGI −0.10%

Most stock markets in the Gulf edged higher in early trade on Tuesday,

recovering some of their recent losses triggered by worries the region
could be on the brink of a broader Middle East war.

Fighting in the region intensified after Iran-backed Hezbollah fired rockets

at Israel's third-largest city, Haifa, and Israel looked poised to expand its

offensive into Lebanon, a year after the Hamas attack that sparked Israel's

ongoing war in Gaza.

The downturn in Gulf markets began after Iran launched a missile barrage

on Israel on Oct. 1. Israel has sworn to retaliate and is weighing its
options, with Iran's oil facilities considered a possible target.

Saudi Arabia's benchmark index TASI gained 0.3%, with ACWA Power Co

2082 climbing 1.8% and the country's biggest lender, Saudi National
Bank 1180 , rising 0.7%.

Elsewhere, Arabian Mills For Food Products Co (2285.SE) jumped 10% to

72.6 riyals in its trading debut.

Iran's Foreign Minister Abbas Araqchi will visit Saudi Arabia and other

Middle East countries starting on Tuesday to discuss regional issues and

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