Tadawul Review: 

Tadawul All Share Index (TASI) rose for the fourth day on Tuesday, up by +62 points (+0.5%) to close at 11,780 levels. TASI started the session negatively, opening with a fall of -9 points, but then displayed fluctuations throughout the session until it closed at its highest point at the end of the session. In general, 11 out of 21 sectors closed in the green zone, and 128 shares rose while 85 fell. Banks (+1.1%), Real Estate (+2.5%), and Utilities (+1.6%) sectors contributed the most to the index rise. Stockwise, Al Rajhi Bank  (+1.0%), ACWA Power (+1.9%), and Saudi National Bank (+1.4%) were the major contributors. The trading activity witnessed a decrease in volume and value of -1% and -6%, respectively, to reach 210mn shares and SAR5.2bn in value traded.

 

 

Market Wrap International:

Mike Wilson from Morgan Stanley warns that traders should prepare for a notable stock market decline amidst uncertainties surrounding the US presidential campaign, corporate earnings, and Federal Reserve policies. Dow Jones Industrial Average down -0.1%. S&P 500 increased by 0.1%. Nasdaq Composite advanced 0.2%.

European stocks opened lower amid investor concerns over political uncertainty in France following Sunday's election results. Markets are anticipating a prolonged period of instability as a fractured parliament emerges, with the far-left New People’s Front securing the most seats in the final round, disrupting expected gains for Le Pen. FTSE 100 was down -0.7%. France’s CAC 40 fell by -1.6%.

Asian markets increased on Tuesday following rises in US stocks, and ahead of Federal Reserve Chairman Jerome Powell's congressional testimony, which will be closely monitored for clues about the timing of potential interest rate reductions. The major Asian indices showed varied performance with the KOSPI rising 0.3%, the Nikkei 225 gaining 1.9%.