Tadawul Review:

Tadawul All Share Index (TASI) rose for the 12th consecutive day on Sunday, gaining +15 points (+0.1%) to close at 12,203 levels. The trading session started with a decline of -18 points at the opening but showed fluctuations throughout the day before closing at its highest point. Overall, 8 out of 21 sectors closed in the green zone, with 79 shares rising while 143 fell. The Banking sector (+0.6%), Real Estate sector (+1.6%), and Utilities sector (+0.3%) made significant contributions to the index's increase. Among individual stocks, Al Rajhi Bank (+0.7%), Riyad Bank (+1.3%), and Makkah Construction (+3.6%) were the major contributors. Trading activity saw a decline in both volume and value, decreasing by -11% and -27% respectively, with 345 million shares traded valued at SAR 6.4 billion.

 

 

 

Market Wrap International:

Recent economic indicators suggest a potential Federal Reserve interest-rate cut as inflation eases and economic activity slows. Core inflation, excluding food and energy, is expected to have risen just 0.1% in June, marking its slowest annualized pace this year and falling below the Fed’s 2% target. Additionally, a communication outage at CrowdStrike, a key US cybersecurity firm serving Microsoft, sparked widespread disruptions across global markets last Friday. This incident dampened investor sentiment, contributing to a negative trend in global markets.

European stocks experienced a decline on Friday amidst heightened uncertainty in major economies, compounding challenges for investors despite the onset of interest rate cuts. Furthermore, a global service outage affected airlines, banks, and financial institutions, adding additional pressure to the markets. Over the past two weeks, European indices have shown the following changes: FTSE 100 -0.3%, DAX -0.35%, CAC -0.41%, and Euro STOXX 600 -0.51%. Notably, throughout last week, the DAX recorded negative values on successive days: -0.84%, -0.39%, -0.44%, -0.45%, and -1.00%, reflecting ongoing volatility and investor caution in the region.

In the last two weeks, Asian markets showed mixed results: the SHCOMP rose by 0.74%, the NIKKEI 225 decreased by 1%, and the Hang Seng edged up by 0.04%. Over the past week, SHCOMP fluctuated with movements of -0.45% among others, NIKKEI 225 recorded two increases and three decreases, and Hang Seng saw similar mixed movements with notable changes like -1.52% and -2.03%. These variations underscore the ongoing volatility and economic influences impacting Asian markets amid global uncertainties.