Page 143 - AAE GENERAL REPORT - March 2024
P. 143

The operator of fitness centers in the Middle East and north Africa, Leejam posted a
               22.9% rise in fourth-quarter net profit and raised its quarterly cash dividend by 20%.

               In Abu Dhabi, the benchmark index (.FTFADGI), opens new tab rose 0.2%, helped by a
               0.8% increase in First Abu Dhabi Bank (FAB.AD), opens new tab shares, the UAE's

               largest lender, and a 0.2% gain for Aldar Properties (ALDAR.AD), opens new tab.

               Dubai's benchmark index (.DFMGI), opens new tab eased 0.1%, weighed down by
               losses in utilities and finance, with Mashreqbank (MASB.DU), opens new tab dropping
               4.6% and Al Ansari Financial Services (ALANSARI.DU), opens new tab sliding 1.8%.

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               The Qatari benchmark index (.QSI), opens new tab retreated 0.3% after four straight
               sessions of gains, with almost all sectors in the red.

               Industries Qatar (IQCD.QA), opens new tab shed 0.3%, while Qatar Islamic

               Bank (QISB.QA), opens new tab and Doha Bank (DOBK.QA), opens new tab slipped
               0.5% and 1.4% respectively.

               The Fed is widely expected to hold rates steady in a meeting on Wednesday, with the
               market's attention on policymakers’ updated economic and interest rate projections and

               comments from Chair Jerome Powell.

               00:01US puts pressure on Israel with ceasefire resolution

               Most Gulf currencies are pegged to the dollar, and any monetary policy change in the
               United States is usually mimicked by Saudi Arabia, the United Arab Emirates and Qatar.

               Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab fell for a third

               consecutive session, ending 1.4% lower and with most sectors in the red.

               Commercial International Bank (COMI.CA), opens new tab and Talaat Mostafa
               Group (TMGH.CA), opens new tab dropped 3.6% and 6.3% respectively, while E-
               Finance (EFIH.CA), opens new tab surged 10.6%.

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               The World Bank said on Monday it intends to provide more than $6 billion of support
               over the coming three years to Egypt, which has been struggling with a foreign currency

               crunch and gaping budget and balance of payments deficits.


               https://www.reuters.com/world/middle-east/major-gulf-bourses-end-mixed-egypt-extends-slide-
               2024-03-19/
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