Tadawul Review:

Tadawul All Share Index (TASI) rose on Monday, gaining 37 points (+0.3%) to close at 12,097. TASI began the session negatively, opening with a decline of 11 points, but then showed fluctuations throughout the session. In general, 10 out of 21 sectors closed in the green zone, and 71 shares rose while 154 fell. Banks (+0.5%), Utilities (+2.4%), and Food and beverages (+0.8%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+3.2%), Al Rajhi Bank (+0.8%), and Sulaiman Al Habib (+2.0%) were the major contributors. The trading activity witnessed a decrease in volume by -28% to reach 320mn shares, while the value increased by 45% to reach SAR4.8bn in value traded.

 

 

Market Wrap International:  

On Monday, stock indices inched higher, while the Dow Jones Industrial Average carried a seven-day losing streak into a week dominated by a key central bank meeting. Despite Flat performances in other major markets, US equity futures remained steady as investors awaited interest rate announcements from leading central banks. Bitcoin also surged to a new all-time high. The Nasdaq Composite surged 1.2%, the S&P 500 gained 0.4%, while the Dow Jones Industrial Average dropped -0.3%.

 

European markets dropped, with traders digesting regional data amid political tensions and preparing for the last central bank meetings of the year. The decline came as three French media companies made their European market debut, and with the Federal Reserve’s final policy meeting of 2024 on the horizon. The CAC 40 declined by -0.7%, while the DAX and FTSE 100 each lost -0.5%. The broader Euro STOXX 600 saw a slight decrease of -0.1%.

 

Asian markets retreated as China reported underwhelming economic data for November. The Hang Seng dropped by -0.9%, while the SHCOMP and KOSPI each declined by -0.2%. The NIKKEI 225 experienced a more modest loss of -0.03%.