Latest news with #SalikCompany
Reuters
25-05-2025
- Business
- Reuters
Saudi Arabia's stock index rises, snapping three-day losing streak
May 20 (Reuters) - Most stock markets in the Gulf settled higher on Tuesday, with Saudi Arabia's benchmark stock index (.TASI), opens new tab snapping three consecutive sessions of decline and the Dubai main share index hitting another record high. Saudi Arabia's stock index rose 0.29%. The country's economic minister Faisal Ali Ibrahim said Saudi Arabia was ready for "multiple oil price scenarios" at the Qatar Economic Forum in Doha. "Fundamentally, the Saudi stock market remains supported by a positive economic outlook, which could lead to potential advances in the medium term, provided oil prices and external factors are favourable," said Hani Abuagla, Senior Market Analyst at XTB MENA. Oil prices - a catalyst for Gulf stocks - steadied on Tuesday amidst uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks. Brent futures slipped around 0.4% by 1222 GMT O/R Meanwhile in UAE, Dubai's main share index (.DFMGI), opens new tab finished the day 0.44% lower after three straight sessions of gains. Abuagla attributed the move lower to profit-taking following the third-straight day of the index scaling record highs. Salik Company ( opens new tab, the UAE's toll operator, was the top loser on the index down 2.78%. Abu Dhabi's benchmark index (.FTFADGI), opens new tab closed 0.43% higher after touching its highest level since March last year, boosted by gains in the financial sector. First Abu Dhabi Bank ( opens new tab, the United Arab Emirates' biggest lender, climbed 3.25%. Qatar's benchmark stock index (.QSI), opens new tab rose 0.5% to its highest since December 31, 2023. Qatar's sovereign wealth fund (QIA) is planning to at least double its annual U.S. investments in the next decade, its CEO said on Tuesday. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab settled 0.87% higher, with investment banking firm Beltone Financial ( opens new tab leading gains at 8.05%.
Zawya
20-05-2025
- Business
- Zawya
Mideast Stocks: Saudi Arabia's stock index rises, snapping three-day losing streak
Most stock markets in the Gulf settled higher on Tuesday, with Saudi Arabia's benchmark stock index snapping three consecutive sessions of decline and the Dubai main share index hitting another record high. Saudi Arabia's stock index rose 0.29%. The country's economic minister Faisal Ali Ibrahim said Saudi Arabia was ready for "multiple oil price scenarios" at the Qatar Economic Forum in Doha. "Fundamentally, the Saudi stock market remains supported by a positive economic outlook, which could lead to potential advances in the medium term, provided oil prices and external factors are favourable," said Hani Abuagla, Senior Market Analyst at XTB MENA. Oil prices - a catalyst for Gulf stocks - steadied on Tuesday amidst uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks. Brent futures slipped around 0.4% by 1222 GMT. Meanwhile in UAE, Dubai's main share index finished the day 0.44% lower after three straight sessions of gains. Abuagla attributed the move lower to profit-taking following the third-straight day of the index scaling record highs. Salik Company, the UAE's toll operator, was the top loser on the index down 2.78%. Abu Dhabi's benchmark index closed 0.43% higher after touching its highest level since March last year, boosted by gains in the financial sector. First Abu Dhabi Bank, the United Arab Emirates' biggest lender, climbed 3.25%. Qatar's benchmark stock index rose 0.5% to its highest since December 31, 2023. Qatar's sovereign wealth fund (QIA) is planning to at least double its annual U.S. investments in the next decade, its CEO said on Tuesday. Outside the Gulf, Egypt's blue-chip index settled 0.87% higher, with investment banking firm Beltone Financial leading gains at 8.05%. SAUDI ARABIA up 0.29% to 11,438.18 ABU DHABI up 0.43% to 9,707.02 DUBAI down 0.44% to 5,467.31 QATAR up 0.50% to 10,763.33 EGYPT up 0.87% to 31,629.34 BAHRAIN inched up 0.01% to 1,922 OMAN up 0.12% to 4,457.34 KUWAIT down 0.08% to 8,701.32 (Reporting by Rishab Shaju in Bengaluru; Editing by Shreya Biswas)
Zawya
15-05-2025
- Business
- Zawya
Mideast Stocks: Major Gulf markets varied as oil oversupply fears loom
Saudi Arabia's benchmark stock index ended slightly lower on Thursday, weighed down by a fall in oil prices on expectations for a U.S.-Iran nuclear deal, while a surprise build in U.S. crude oil inventories last week heightened investor concerns about oversupply. Oil prices are a catalyst for the Gulf's financial markets. Brent crude futures were down $1.98, or 3%, to $64.11 a barrel at 1217 GMT. Earlier this week, investors were met with a wave of optimistic developments — from a breakthrough in the U.S.-China trade tensions to a series of high-profile investment agreements in the Middle East during U.S. President Donald Trump's Gulf visit. But the enthusiasm faded on Thursday, with MSCI's broadest index of Asia-Pacific shares outside Japan inching 0.15% lower and Wall Street futures 0.5% weaker. However, performance across Gulf stocks varied on Thursday. A 10% drop in construction material maker Zamil Industrial dragged Saudi Arabia's benchmark index lower by 0.41%. Dubai's main share index closed up 0.73%, supported by a 4.6% jump in toll gates operator Salik Company. In Abu Dhabi, the benchmark index settled up 0.04%, while Qatar's benchmark stock index closed down 0.18%. Outside the Gulf, Egypt's blue-chip index, extended gains to a fourth straight session, closing up 0.36%. down 0.41% SAUDI ARABIA to 11,485.05 rose ABU DHABI 0.04% to 9,625.19 rose 0.73% DUBAI to 5,398.77 down 0.18% QATAR to 10,574.59 up 0.36% EGYPT to 31,941.15 rose 0.03% BAHRAIN to 1,920.771 rose 0.30% OMAN to 4,410.22 rose 0.02% KUWAIT to 8,756.47 (Reporting by Chandini Monnappa and Rishab Shaju in Bengaluru; Editing by Shailesh Kuber)
Hi Dubai
14-05-2025
- Business
- Hi Dubai
Salik Joins MSCI UAE Index After Strategic Overhaul
Salik Company announced that it has been included in the MSCI UAE Index as per the review announcement by MSCI on 13th May 2025, widely recognised as an important benchmark for decision-making by global investors in emerging markets. The MSCI UAE Index, which is a component of the MSCI EEMEA Index, is designed to measure the performance of large and mid-cap segments of the UAE equity market. Index inclusion typically supports increased liquidity for a company's shares and can help to attract more regional and global institutional and index-tracking investors, including those with a focus on Emerging Market equities. Salik's inclusion in the MSCI UAE Index follows the execution of its updated strategy since its implementation in 2024. News Source: Emirates News Agency
Zawya
14-05-2025
- Business
- Zawya
Salik added to MSCI UAE Index
Salik Company announced that it has been included in the MSCI UAE Index as per the review announcement by MSCI on 13th May 2025, widely recognised as an important benchmark for decision-making by global investors in emerging markets. The MSCI UAE Index, which is a component of the MSCI EEMEA Index, is designed to measure the performance of large and mid-cap segments of the UAE equity market. Index inclusion typically supports increased liquidity for a company's shares and can help to attract more regional and global institutional and index-tracking investors, including those with a focus on Emerging Market equities. Salik's inclusion in the MSCI UAE Index follows the execution of its updated strategy since its implementation in 2024.
