Tadawul Review:

Tadawul All Share Index (TASI) fell Monday, down by 1 point to close at the 11,854 level. TASI started the session positively, opening with a rise of 35 points, then started to decline until the end of the session. In general, 3 out of 21 sectors closed in the red zone, while 43 shares fell and 187 rose. Banks (-0.9%), utilities (-2.2%), and Energy (-0.8%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-3.0%), Al Rajhi Bank (-1.1%), and Saudi National Bank (-2.3%) were the major contributors. The trading activity witnessed a decline in volume and value by -81% and -81%, respectively, to reach 371mn shares ‎and SAR10.0bn in value traded.

 

 

 

 

Market Wrap International: 

The U.S. stock futures were slightly lower Monday after a winning week, the S&P 500 witnessed gains that rose by 0.3%, led by 1.27% Utilities and 0.71% Energy, and the Nasdaq Composite increased by 0.3%. Investors are still waiting for early interest rate cuts by the Federal Reserve this year, driven by recent economic data indicating a slowdown in economic growth.

In Europe, the markets experienced a decline on Monday following French President Emmanuel Macron's announcement of a snap election, which came after a significant loss in the European Union vote to the far-right party. This news unsettled investors who were already concerned about the outlook for interest rates. The Euro Stoxx 600 index dropped by -0.3% on Monday, while the FTSE 100 index fell by -0.2%.

 

In Asia, specifically in Japan, the stock market witnessed a rebound with Japanese stocks leading the way. The rise in stock prices was primarily driven by financials and other value stocks, which benefited from the increase in bond yields. The TOPIX index, representing all the stocks listed on the Tokyo Stock Exchange's First Section, experienced a 1.0% increase. Similarly, the NIKKEI 225 index , which tracks the performance of 225 major Japanese companies, rose by 0.9%. while markets in China were closed on Monday.