Tadawul Review:

Tadawul All Share Index (TASI) rose on Sunday, up by +231 points (+2.0%) to close at 11,730 levels. The trading session began on a positive note, with a 147-point increase in the opening, but then displayed fluctuations throughout the session until it closed. In general, 12 out of 21 sectors closed in the green zone, and 79 shares rose while 151 fell. Banks (+2.6%), Utilities (+8.0%), and Telecommunications (+2.6%) sectors contributed the most to the index rise. Stockwise, ACWA Power (+10.0%), Al Rajhi Bank (+2.5%), and Aramco (+1.4%) were the major contributors. The trading activity witnessed a decline in volume and value of -49% and -53%, respectively, to reach 206mn shares and SAR5.2bn in value traded.

 

 

 

Market Wrap International:

after the negatve performance of U.S markets on Friday, the investors anticipating interest rate changes, the spotlight next week will be on a key U.S. inflation gauge and preliminary June inflation data from some Eurozone economies.

In European Markets, investors brace themselves for a possible disparity in how European central banks will react to inflation data. as certain banks are more inclined to adjust interest rates than their counterparts.

In Asia, investors are closely monitoring the upcoming third plenary meeting scheduled for July in China, as emphasized by Daiwa analysts in a note. They have a specific interest in observing the implementation of more pragmatic policies concerning China's economy.