Page 53 - SALIK PR REPORT - MARCH 2024
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3/26/24, 9:29 AM Most Gulf bourses dip in early trade; Dubai gains - Markets - Business Recorder
In Abu Dhabi, the benchmark stock index eased 0.1%, with Abu Dhabi National Oil Co
for Distribution down 1.0% and conglomerate International Holding Co shedding 0.1%.
Dubai’s benchmark stock index rose 0.3%, lifted by gains in industry, finance and
communication services sectors.
UAE markets gain on possibility of Gaza ceasefire
Toll-road operator Salik Co gained 1.4% and Mashreqbank was up 4.7%.
However, the emirate’s largest lender Emirates NBD lost 0.9%.
The main data event of the week will be US core personal consumption expenditure
(PCE) price index on Friday which is seen rising 0.3% in February, keeping the annual
pace at 2.8%.
Anything higher would be taken as a setback to hopes for a Federal Reserve rate cut in
June.
Most Gulf currencies are pegged to the dollar.
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