UAE Stock Market Value Surpasses $1 Trillion

The market capitalization of stocks in the Abu Dhabi and Dubai markets has surpassed $1 trillion for the first time, exceeding other global markets such as Milan and Madrid. The value surge was driven by multiple listings in both markets, along with the significant presence of semi-governmental companies in Abu Dhabi. The "IHC" group alone accounts for a quarter of the total value of both markets, reaching nearly $250 billion. The Arab Monetary Fund's composite index, which tracks the performance of Arab financial markets, recorded a 2.14% increase at the end of Q3 2024, compared to Q2 2024. On a year-on-year basis, the index grew by 1.50%, reflecting a rise in the majority of Arab stock market indices. Thirteen Arab exchanges saw growth, while three experienced declines.