Page 31 - SALIK PR REPORT - MARCH 2024

3/27/24, 10:12 AM Mideast Stocks: Gulf bourses mixed in early trade

The hospitality and travel services provider Seera posted a full-year net profit of 265 million riyals

($70.66 million) compared with a loss of 46 million riyals a year earlier, recording strong booking
volumes and revenues.

In Abu Dhabi, the benchmark stock index was up 0.1%, with Abu Dhabi National Energy Co gaining
1.5% and the UAE's largest lender First Abu Dhabi Bank adding 0.7%.

Dubai's benchmark stock index edged up 0.1%, aided by gains in industry, finance, consumer
discretionary and real estate sectors, with tolls operator Salik Company climbing 1.1% and Dubai Islamic

Bank adding 0.5%.

The Qatari benchmark index eased 0.2%, weighed down by losses in most sectors, with Masraf Al
Rayan dropping 4.7% and Qatar Navigation sliding 1.1%.

However, Qatar National Bank, the region's largest lender, gained 0.8%.

The crucial February reading of the Personal Consumption Expenditures (PCE) price index, the Fed's

preferred inflation gauge, is due on Friday. A hot reading for the PCE index could dent market optimism
around early rate cuts.

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

($1 = 3.7503 riyals)

(Reporting by Md Manzer Hussain; Editing by Mrigank Dhaniwala)

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