Page 86 - SALIK PR REPORT DECEMBER 2024

Dubai outperforms other Gulf

markets in early trade

Electronic boards showing stock information are pictured at the stock market, in Dubai, United Arab Emirates, November
5, 2020. REUTERS/Abdel Hadi Ramahi/Files Purchase Licensing Rights, opens new tab

Dec 26 (Reuters) - Dubai's benchmark share index jumped to its highest level in more than
a decade on Thursday, lifted by real estate and industrial stocks, while most other markets
in the Gulf also gained amid stronger oil prices.

Oil prices, a catalyst for the Gulf's financial markets, were up 0.1% on hopes for additional

fiscal stimulus in China and an anticipated decline in U.S. crude inventories.

Brent was trading at $73.064 a barrel by 0805 GMT.

Dubai's benchmark stock index (.DFMGI), opens new tab rose 0.4% to 5,101, its
highest in more than 10 years, extending gains for a third straight session.

Emaar Development (EMAARDEV.DU), opens new tab advanced 1.2% and toll

operator Salik Company (SALIK.DU), opens new tab added 0.6%.

Meanwhile, Dubai Islamic Insurance & Reinsurance (AMAN.DU), opens new
tab slipped 2.3% after the insurer reported accumulated losses at 73% of capital
by the end of the third quarter.

Saudi Arabia's benchmark stock index (.TASI), opens new tab was up 0.2%, with

most sectors in the green. Al Yamamah Steel Industries (1304.SE), opens new
tab rose 1.8% as the steelmaker posted a full-year net profit and declared a cash
dividend of 0.5 riyal per share.

https://www.reuters.com/world/middle-east/dubai-outperforms-other-gulf-markets-early-trade-
2024-12-26/