Tadawul Review:

Tadawul All Share Index (TASI) rose on Monday’s session, rising by 84 points (+0.7%) to close at the 11,381 level. TASI opened the session positively by 6 points and continued rising gradually during the session until the end. Overall, 9 out of 20 sectors closed in the green zone, while 83 shares rose and 132 fell. Banks (+1.4%), Telecom (+2.5%), and Utilities (+2.7%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank (+2.2%), ACWA Power (+3.5%), and Saudi Telecom (+4.2%) were the major contributors. The trading activity witnessed an increase in volume and value of +14% and +52%, respectively, to reach 259mn shares and SAR7.5bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 ended Monday’s session on a positive note by 0.4%, with 10 out of 11 sectors rising as analysts predict that the U.S. consumer price report for November will have an impact on the economic outlook, suggesting that the headline rate will remain unchanged while the core rate is anticipated to increase by 0.3%. The Nasdaq Composite rose by 0.2% as oil prices remained stable, with support coming from U.S. initiatives to restock strategic reserves.

In Europe, the Stoxx Europe 600 ended up by +0.3% prior to the "Super Thursday" meeting of the European Central Bank and the Bank of England, with expectations that the outcome would be steady. The FTSE 100 index was negative by -0.1% as factories showed signs of recovery with improved restocking and export orders, providing support in a challenging 2024.

In Asia, Bank of Japan officials have expressed a lack of urgency in scrapping the world's last remaining negative interest rate this month. In terms of market performance, the TOPIX and NIKKEI 225 indices rose by 1.5%. Additionally, the Hang Seng index ended negatively by -0.8% while the Shanghai Composite index saw increases of +0.7%.