Tadawul Review: 

Tadawul All Share Index (TASI) closed the week on a positive note on Thursday and jumped 100 points (+0.9%) to close at 11,393 levels. TASI opened the session positively, by 5 points from the previous close and after showing initial wobbling steadily rose In general, 16 out of 20 sectors closed in the green zone, while 155 stocks rose and 54 fell. Banks (+1.1%), Telecom (+3.0%), and Materials (+0.6%) sectors contributed the most to the index's rise of 70 points. Stockwise, Riyad Bank (+4.1%), Saudi National Bank (+1.7%), and Saudi Telecom (+2.7%) contributed most to the rise of the index. The trading activity witnessed an increase in volume and value by 0.9% and 8.1%, respectively, to reach 224mn shares and SAR6.2bn in value traded. TASI has gained only 85point month-to-date. With the results season coming to a close and volatility in oil prices, the index is likely to move sideways.

 

 

 

Market Wrap International:

The global equity markets closed the week on a mixed note ‎amid more negative economic data and tail end of Mar-end ‎result season. The latest survey of consumer expectation of ‎long-term inflation in the U.S unexpectedly showed uptick ‎while sentiments dropped. The data contradicts the ‎moderation in the monthly CPI and brought back fears of ‎more hikes by the FOMC. The treasury yields picked up again ‎in the U.S. The data also had a negative bearing on the equity ‎indices with the S&P 500 and Nasdaq Composite dropping by ‎‎0.2% and 0.4% on Friday. Four out of eleven sectors on S&P ‎‎500 closed negative led by consumer discretionary and ‎financials.‎

In Europe, the markets climbed the wall of worry and climbed ‎‎0.4% on Friday to erase losses in the preceding four sessions. ‎The economic data in the region showed the U.K economy ‎unexpectedly shrank in Mar. The country level indices moved ‎in the same direction and were up 0.3-0.5%.‎

 

‎ In Asia, benchmarks in Hong Kong (Hang Seng:-0.6%) and ‎China (Shanghai Composite:-1.1%) were the major ‎underperformers in the region on the weak inflation/credit ‎data in China. Japan (TOPIX: +0.6%) was a major outlier in ‎the region on corporate results. Other major indices in the ‎regions moved sideways. ‎