This week in MENA "24 July 2026" Peace

Research evidence excerpt

This week in MENA "24 July 2026" Peace

Global Research

24 July 2026ab

This week in MENA Equities

EMEA Emerging24 July 2026

Financial

Jon Peace

Higher oil price and strong results support Saudi and UAE markets Analyst

Rising geopolitical uncertainty led to a significant increase in the oil price, up 14.3% to jon.peace@ubs.com

$100.7/Bbl, supporting the Saudi market (+1.4%), while the UAE (+1.4%) benefited +44-20-7567 0638

from strong results from the banks sector. Both markets underperformed the broader Ulyana Lenvalskaya

MSCI EM Index (+3.2%), which was led higher by Taiwan, Korea and LatAm. Among Analyst

sectors, IT and Utilities were among the top performers, while Transport and Consumer ulyana.lenvalskaya@ubs.com

Staples were weaker performers. +971-443-64776

Alexander Estefanous, CFA

Macro news and research Analyst

UAE expands global trade network with 37 CEPAs. (Gulf News) alex.estefanous@ubs.com

+44-20-7567 0508

UAE’s non-oil foreign trade rose 13% YoY in 1H26, despite four months of Luis Schmidt

geopolitical tension. (AGBI) Analyst

luis.schmidt@ubs.com

Company news and research +44-20-7567 0847

MENA Petrochemicals 2Q26 preview; where do we go from here?

Thando Skosana

MENA Utilities 2Q26; strong Q1, more of the same in Q2? Analyst

thando.skosana@ubs.com

MENA Healthcare 2Q26 preview; will volumes rebound? +44-20-7568 6457

Abu Dhabi Commercial Bank Post 2Q26: Raise price target to AED19.0. Anna Kishmariya

Analyst

Alinma Bank 2Q26 First Read: 4% net profit miss. anna.kishmariya@ubs.com

+44-20-7568 7999

Al Rajhi Banking & Investment Corp 2Q26 First Read: 1% net profit miss.

Henri Patricot, CFA

Emirates NBD Bank Post 2Q26: Raise target to AED38.0. Analyst

henri.patricot@ubs.com

Emirates NBD Bank 2Q26 first read: 9% net profit beat. +33-14-888 3033