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10/31/24, 1:38 PM Gulf Bourses End Mixed, Qatar Retreats Ahead of Referendum

Gulf Bourses End Mixed, Qatar Retreats Ahead of
Referendum

By Reuters | Oct. 30, 2024, at 4:28 a.m.
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REUTERS
FILE PHOTO: Bahraini traders are seen at Bahrain Bourse in Manama, Bahrain, November 4, 2020. REUTERS/Hamad I
Mohammed/File Photo

By Ateeq Shariff

(Reuters) - Stock markets in the Middle East ended mixed on Wednesday, while the Qatari index
tumbled ahead of a constitutional amendment referendum.

Saudi Arabia's benchmark index lost 0.4%, weighed down by a 1.8% fall in the ACWA Power
Company, while Saudi Awwal Bank retreated 3%.
Dubai's main share index gained 0.5%, with toll operator Salik Company advancing 6.8% and
Parkin Company, which oversees public parking operations in the Emirates, closing 1.7% higher.

Dubai - the regional trade and tourism hub - approved a 2025-2027 budget on Tuesday with 272
billion dirham ($74.06 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 in a
post on X.
Sheikh Mohammed said that next year's budget would achieve an operating surplus of 21% of
total revenues for the first time.

In Abu Dhabi the index added 0.2%, helped by a 2.7% increase in Aldar Properties, a day after
the developer reported a sharp rise in quarterly net profit.

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