Tadawul Review:

Tadawul All Share Index (TASI) rose for the fourth consecutive day on Sunday, gaining 23 points (+0.2%) to close at 11,955. The session opened on a positive note with a 7-point increase and continued to rise until the middle of the day. It then started gradually declining until the end of the day but still closed in the green zone. In general, 14 out of 21 sectors closed in the green zone, and 158 shares rose while 70 fell. Utilities (+1.4%), Food and beverages (+1.0%), and Health care equipment and services (+1.0%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+1.8%), Saudi National Bank (+1.5%), and Savola (+2.8%) were the major contributors. The trading activity witnessed an increase in volume by 112% to reach 871mn shares, while the value decreased by -22% to reach SAR4.5bn in value traded.

 

 

 

Market Wrap International:  

As weekly averages, the S&P 500 rose by 1%, the Dow Jones saw a slight decline of -0.02%, and the NASDAQ surged 2.7%, driven by strong gains in tech stocks. Despite the mixed performance, the NASDAQ outperformed the other indices. On Wednesday, December 11, 2024, the U.S. Consumer Price Index (CPI) for November will be released, providing crucial insights into the current inflation trends and economic conditions.

As weekly averages, the FTSE 100 gained 0.7%, the DAX rose by 4%, and the CAC climbed 1.5%. The EURO STOXX 600 also saw a strong increase of 1.95%, reflecting positive market sentiment across European indices, with the DAX leading the gains. The ECB’s interest rate decision for December, scheduled for Thursday, December 12, 2024, will be a critical moment for investors, offering guidance on the central bank's approach to inflation and economic conditions.

 

As weekly averages, the SHCOMP rose by 2.6%, while the KOSPI saw a decline of -1.8%. The NIKKEI 225 gained 1.9%, and the Hang Seng increased by 1.8%, reflecting mixed performance across Asian markets with the SHCOMP and NIKKEI 225 leading the gains.