Tadawul Review: 

The Tadawul All Share Index (TASI) fell on Monday, falling by -21 points (-0.2%) to close at the 11,659 level. TASI started the session positively, opening with gains of 18 points, then started to decline until the end of the session. In general, 12 out of 21 sectors closed in the red zone, while 130 shares fell and 93 rose. Banks (-0.3%), Utilities (-1.0%), and Health care equipment and services (-1.3%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-1.3%), Sulaiman Al Habib (-1.4%), and Riyad Bank (-1.0%) were the major contributors. The trading activity witnessed an increase in volume and value of 19% and 38%, respectively, to reach 274mn shares and SAR7.3bn in value traded.

 

 

 

Market Wrap International:

The global markets started the month on a posative note; the S&P 500 rose by 0.3% on Monday but is up nearly 15% for the first half of 2024. This increase was primarily driven by Information Technology, which saw a rose of 1.30%. The Nasdaq Composite gained by 0.8% and has gained almost 19% year-to-date. The Dow Jones Industrial Average dipped 0.1% but has only increased 4% so far this year, lagging the tech-heavy indexes.

‎European markets are cautiously optimistic amid political risks in France. ‎The French CAC 40 index saw gains by 1.1% after a sharp 6.2% drop last ‎week due to concerns over upcoming snap  elections. Investors are also responding to new EU tariffs on Russian and ‎Belarusian grain, which aim to support European agriculture amid ‎ongoing geopolitical tensions.

 

Asia-Pacific markets began the second half of the year with mixed ‎results as China's official manufacturing PMI stayed at 49.5 in June, ‎indicating ongoing contraction, while the private S&P Caixin PMI rose to ‎‎51.8, its highest in three years. Japan revised its first-quarter GDP ‎contraction to 2.9% year-on-year from an earlier reported 1.8%, citing ‎updated construction investment data. Japan’s Nikkei 225 rose by 0.1% to a ‎‎3-month high while the broad-based TOPIX climbed 0.5%.‎