Page 41 - SALIK PR REPORT OCTOBER 2024

10/31/24, 1:37 PM Mideast Stocks: Most Gulf markets gain in early trade, Qatar falls
A senior Hamas official said on Tuesday the Palestinian militant group was studying new proposals from
mediators to end the Gaza war but reiterated that these should entail a complete Israeli military
withdrawal from the enclave.

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Saudi Arabia's benchmark index added 0.1% in a choppy trade, helped by a 0.7% rise in aluminium
products manufacturer Al Taiseer Group.

Meanwhile, OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies
such as Russia, is scheduled to raise output by 180,000 barrels per day (bpd) in December. The group

has cut output by a total of 5.86 million bpd, equivalent to about 5.7% of global oil demand.

Saudi Arabia's Energy Minister Prince Abulaziz bin Salman said on Tuesday the country was
"committed" to maintaining crude capacity at 12.3 million bpd.

Dubai's main share index gained 0.3%, led by a 3.6% leap in toll operator Salik Company and a 1.1%
increase in top lender Emirates NBD.

Dubai approved a 2025-2027 budget on Tuesday with 272 billion dirhams ($74 billion) of expenditure,
the biggest in the emirate's history, against revenues of 302 billion dirhams, its ruler, Sheikh Mohammed
bin Rashid al-Maktoum, said on X.

In Abu Dhabi, the index added 0.2%.

The Qatari benchmark lost 0.3%, hit by a 1.2% fall in Qatar Islamic Bank.

However, petrochemical maker Industries Qatar rose 0.4% following an increase in nine-month net

profit.

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