Tadawul Review: 

Tadawul All Share Index (TASI) fell on Monday, down by -9 points (-0.1%) to close at 12,509 levels. TASI began the session with a positive start, opening with a 26-point gain. However, it subsequently experienced a decline during the first trading hour and remained steady for the rest of the session. In general, 16 of 21 sectors closed in the red zone, and 148 shares fell while 74 rose. Materials (-1.5%), Banks (-0.2%), and Real Estate (-0.7%) sectors contributed the most to the index fall. Stockwise, Al Rajhi Bank (-0.6%), SABIC Agri-Nutrients (-3.5%), and STC (-1.3%) were the major contributors to the index’s fall. The trading activity witnessed an increase in volume and value of 64% and 39%, respectively, to reach 518mn shares and SAR8.9bn in value traded.

 

 

Market Wrap International:

In the U.S. market, the S&P 500 experienced a +0.9% increase. This followed a previous session slump, as improved risk sentiment resulted from reduced tensions in the Middle East. Investors were anticipating a week filled with major tech earnings releases and a significant inflation report. On the other hand, the Dow Jones recorded a modest +0.7% increase, and the Nasdaq composite saw a rise of +1.1%.

In Europe, EURO STOXX 600 rose +0.6% in Europe on Monday ahead of bank earnings. Galp, the Portuguese oil firm, reached a 16-year high due to positive gas exploration news in Namibia. FTSE 100 gained +1.6%, with focus on the Bank of England's Chief Economist's remarks for rate cut hints and UK economic performance data.

In Asia, The index SHCOMP was down by -0.7% while the Hang Seng rose +1.8%.Chinese authorities' pledge to encourage mainland firms' IPOs in Hong Kong is fueling optimism for increased activity during the city's busiest week of debuts this year. The Japanese indices rose with TOPIX (+1.4%) and NIKKEL 225 (+1.0%).