Tadawul Review: 

Tadawul All Share Index (TASI) rose for the third day on Thursday, up by +16 points (+0.1%) to close at 12,578 levels. TASI started the session positively, opening with a gain of +8 points. It continued to rise, reaching its intraday high early on, but later minimized its gains during the remainder of the session. In general, 11 of 21 sectors closed in the green zone, and 97 shares rose while 119 fell. Utilities (+0.8%), Telecom (+0.5%), and Food and beverages (+0.5%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+1.5%), Etihad Etisalat (+2.9%), and Riyad Bank (+1.7%) were the major contributors to the index’s rise. The trading activity witnessed an increase in volume and value of +28% and +6%, respectively, to reach 440mn shares and SAR9.7bn in value traded.

 

 

 

Market Wrap International:

In the U.S., the S&P 500 recorded losses on Friday of -0.7% for the day, with 6 out of 11 sectors incurring losses. The Information Technology sector had a significant impact, dragging the market down by -1.84%, as today's employment data, along with the upcoming inflation report next Tuesday, will provide further insights into the Federal Reserve's future course of action. Federal Reserve Chair Jerome Powell's comments have emphasized the uncertainty surrounding the progress of inflation, indicating that it is not guaranteed. However, the Nasdaq composite closed down by -1.2%.

In Europe, the European Central Bank left interest rates unchanged as expected on Thursday but acknowledged that inflation is easing faster than once thought. The Stoxx Europe 600 index slightly rose by 0.02% on Friday after of the ECB's decision, while the FTSE 100 saw a -0.4% decline.

In Asia, the Japanese indices saw mixed results, with the Nikkei 225 experiencing a gains of 0.2%, and the TOPIX index rose by 0.3% as revised Q4 GDP data for Japan suggests the economy avoided a recession, thanks to strong company spending on plants and equipment. The Hang Seng index in Hong Kong rose by 0.8%, and the Shanghai Composite Index rose by 0.6%.