Tadawul Review:

Tadawul All Share Index (TASI) rose on Sunday, up by +122points (+1.1%) to close at 11,625 levels. TASI initially began with 53 points up, then started to rise throughout the session to close at its intraday high. In general, 15 out of 21 sectors closed in the green zone, and 138 shares rose while 81 fell. Banks (+1.2%), Utilities (+3.6%), and Health care equipment and services (+5.6%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+4.4%), Sulaiman Alhabib (+6.4%), and Riyad Bank (+5.5%) were the major contributors. The trading activity witnessed a decrease in volume by -46% to reach 224mn shares and the value by -57%, to reach SA5.6bn in value traded. 

 

 

Market Wrap International:

In the U.S, Investors exercise caution as the markets prepare for the upcoming week, with concerns arising from political turmoil surrounding Trump. In April, the Federal Reserve faced mixed signals due to steady U.S. inflation and weakened consumer spending, leading to uncertainty regarding the possibility of interest rate cuts in September.

In Europe, S&P's downgrade of France's sovereign debt rating is expected to have more political impact than financial market repercussions. Meanwhile, slower-than-expected growth in the Canadian economy has increased expectations for an interest rate cut by the Bank of Canada next week.

In Asian, markets could be impacted as new home prices in China rose for the ninth consecutive month in May, backed by measures to support the property sector. Additionally, Japanese authorities spent 9.79 trillion yen ($62.23 billion) to support the yen, which may have implications for market dynamics.