Tadawul Review: 

The Tadawul All Share Index (TASI) fell for the third day of the session on Tuesday, falling by -52 points (-0.4%) to close at the 11,606 level. TASI started the session positively, opening with gains of 2 points, then started to decline gradually to close at its lowest level during the session. Overall, 14 out of 21 sectors closed in the red zone, while 136 shares fell and 87 rose. Banks (-0.9%), Food and beverages (-1.7%), and Telecommunications (-1.2%) sectors contributed the most to the index fall. Stockwise, Saudi National Bank (-1.2%), Al Rajhi Bank  (-0.5%), and Arab National Bank (-4.1%) were the major contributors. The trading activity witnessed an increase in volume by 15% to reach 315mn while the value decrease by -13% to reach SAR6.4bn value traded.

 

 

 

Market Wrap International:

 Global markets started the month on an upbeat note, with the S&P 500 surging up 0.6% on Tuesday and the Nasdaq Composite rising by 0.8%. The Dow Jones Industrial Average rose 0.4%. Strong hiring has bolstered the economy amid aggressive Federal Reserve tightening, pushing interest rates to their highest in two decades. Tuesday's job data release, pivotal for insights into future US interest rates, will be closely watched by investors and analysts for clues on economic resilience and potential Fed actions.

In June, inflation in the Eurozone decreased to 2.5%, meeting expectations. Belgium experienced a 10-month high in inflation, whereas Germany recorded a decline in inflation. The Stoxx Europe 600 index fell approximately -0.4%, driven by declines in insurers and car manufacturers. France's CAC 40 index reversed most of its gains from Monday amidst preparations for a second round of elections, leaving the outlook for French assets uncertain. Meanwhile, futures for US equities declined.

 

In regards to Asian markets, South Korea's CPI inflation fell in June to its lowest level in 11 months, with the consumer price index rising 2.4% from a year earlier. Nikkei 225 and Topix both increased by 1.1% on Tuesday, buoyed by strong gains in tech and financial sectors.