Page 216 - SALIK PR REPORT ENGLISH AUGUST 2024

8/16/24, 11:17 AM GCC stock markets rise on US inflation data, boosting interest rate cut hopes

GCC stock markets rise on US inflation data,

boosting interest rate cut hopes

Date Share on Facebook Tweet on Twitter
8/15/2024 9:07:52 AM

(MENAFN) On Wednesday, Gulf stock markets posted gains, reflecting a positive shift in
global equities driven by US producer price data that suggested a slowdown in inflation. This

data has heightened expectations for a potential cut in US interest rates. Market participants
are currently anticipating a 51.5 percent chance that the Federal Reserve will reduce interest

rates by 50 basis points at its upcoming September meeting, as opposed to a 48.5 percent
probability for a 25 basis point cut.

In Dubai, the index increased by 0.7 percent, buoyed by improvements across various
sectors. Notably, Emirates NBD saw a rise of 2.1 percent, and Salik gained 1.5 percent.

Salik’s performance was further supported by its recent announcement of cash dividends

https://menafn.com/1108558730/GCC-stock-markets-rise-on-US-inflation-data-boosting-interest-rate-cut-hopes 1/2