Tadawul Review:

Tadawul All Share Index (TASI) ended the first session of the week in the green zone, gaining 81 points (+0.6%) to close at 13,395 levels. Sunday’s session makes it the fifth successive stretch for the index to maintain its ascending spell. The majority of the sectors closed on a positive note. The Materials sector increased by +0.6%, and this was mainly attributed to the whopping +10% increase in AMAK amid trading of around 10 million shares. The Health Care Equipment & Svc sector also closed in the green with a gain of +1.2% due to many firms recording gains within the sector, including EQUIPMENT HOUSE which jumped +4%. BJAZ and SAIB gained +5.8% and +3.5%, respectively, adding to the overall increase of +1% in the Banks sector. ACWA POWER recovered from its previous massive loss by jumping +6.8% and causing the Utilities sector to increase by +2.1%. Trading volumes and values decreased by -9.2% and -1.2%, respectively.

Market Wrap International:

The first quarter earnings season will be off this week, with prominent banks like JPMorgan Chase, Goldman Sachs, and Wells Fargo reporting their results. Delta Air Lines is set to announce profits and provide an update on Q2-Q3 booking trends, thus the airline sector will be heavily scrutinized. As investors continue to monitor the pace of rate hikes, Federal Reserve speakers will hit the road, while the economic calendar is highlighted by the highly anticipated Consumer Price Index release on April 12. Inflation is predicted to rise 1.1% month over month in March, and 8.4% year over year, according to the CPI. This is a significant increase above the pace recorded in February.

President Emmanuel Macron is seeking re-election to a second five-year term, but his margin has dwindled. If Le Pen wins, it will be a political and financial earthquake for France and Europe. Despite the conflict in Ukraine, European Central Bank President Christine Lagarde hinted in March that interest rates would be raised in the second half of this year. On Wednesday, the focus will be on inflation in the United Kingdom, with statistics expected to indicate that prices increased in March, pointing to a further increase in April. Turkey's central bank is expected to disregard the threat of rising inflationary pressures and keep interest rates unchanged on Thursday.