Latest news with #TadawulAllShareIndex
Saudi Gazette
6 days ago
- Business
- Saudi Gazette
Gulf stock markets tumble amid Israel-Iran escalation
Saudi Gazette report RIYADH — Financial markets across the Arabian Gulf and Egypt plunged sharply on Sunday, as escalating military tensions between Israel and Iran triggered widespread selloffs and heightened volatility across the region's stock exchanges. The downturn followed a weekend of intensified hostilities, with both sides exchanging airstrikes since Friday, rattling investor confidence and driving oil prices up nearly 7% by the close of trading on Friday. In Saudi Arabia, the Tadawul All Share Index (TASI) opened down by around 3%, before recovering slightly to close 1.81% lower at 10,647 points. Trading volumes exceeded SR2 billion. Despite the overall market drop, shares in Saudi Aramco rose 1.76%, buoyed by the oil price surge, peaking at SR25.50 on a trading value of more than SR357 million. The Kuwait Stock Exchange experienced the steepest losses, initially falling by 5%, which triggered a temporary trading ended the session down 3.9% at 8,507 points, shedding 348 points. Total trading exceeded 446 million shares, valued at KWD 127.7 stock market suffered one of its worst single-day losses in recent benchmark EGX 30 index fell 6.26% to 30,475 points, while market capitalization lost more than EGP 120 billion within the first 15 minutes of trading, as a wave of panic selling swept the Qatar Stock Exchange index also dropped 2.8% to 10,334 points, and the Muscat Securities Market slid 1.8% to 4,461 points. The Bahrain Bourse recorded a milder decline of 0.7%.
Bloomberg
12-06-2025
- Business
- Bloomberg
Israel, Gulf Stocks Drop as Middle East Tensions Rise Again
Stock markets across the Middle East fell on Thursday, with Israel's benchmark index the worst-performer globally as traders responded to heightened tensions in the region. In Tel Aviv the TA-35 Index fell as much as 2.5%, while the Dubai Financial Market General Index shed 2.3%. Both were set for their biggest declines in two months. The Saudi Tadawul All Share Index dropped 1.8%.
Saudi Gazette
11-06-2025
- Business
- Saudi Gazette
Saudi stock market reopens with 1.4% jump after Eid holiday
Saudi Gazette report RIYADH — The Saudi stock market resumed trading on Wednesday following the Eid Al-Adha holiday with a strong rally, as the Tadawul All Share Index (TASI) jumped by 155.53 points, or 1.4 percent, to close at 11,160 points. Total traded value reached SR1 billion. Saudi Aramco, the index's largest component by weight, gained 1.6 percent to reach SR25.20. In the energy and industrial sectors, Al-Masafi rose 1.6 percent to SR63.20, while Bahri (National Shipping Company of Saudi Arabia) climbed 1.3 percent to SR31.00. In the basic materials sector, SABIC and Ma'aden both advanced nearly 2 percent, closing at SR56.30 and SR51.60 respectively. The banking sector saw strong momentum as Al Rajhi Bank rose 1.7 percent to SR94.90, SNB (National Commercial Bank) climbed 2.6 percent to SR35.15, and Riyad Bank surged 3 percent to post-holiday gains reflect renewed investor confidence in the Saudi economy, buoyed by strong performance in heavyweight stocks across energy, industry, and finance.
Yahoo
28-05-2025
- Business
- Yahoo
Saudi Stocks Set to Be World's Worst in May After Oil-Price Drop
(Bloomberg) -- Saudi Arabia's sliding stocks are on course to be the worst performers globally this month as falling oil prices prompt concerns of slower spending on mega projects in the kingdom. NY Wins Order Against US Funding Freeze in Congestion Fight The Tadawul All Share Index has slumped 6.4% in May as of Tuesday's close, the most among 92 equity benchmarks tracked by Bloomberg. The Saudi gauge is also dropping for a fourth month, the longest losing streak since 2014. That's a sharp divergence with the broader emerging market index, which is heading for its best month since September and the longest sequence of gains for almost a year. Weakness in oil is at the heart of faltering sentiment toward Saudi stocks. Crude prices sank to a four-year low in early April, with the outlook clouded by trade tensions and increasing supply from OPEC+ members. That adds to pressure on Saudi finances after the kingdom reported the widest budget deficit since late 2021 in the first quarter. 'There are fears that the fall in oil revenues could affect the projects market,' said Junaid Ansari at Kamco Invest in Kuwait City, referring to plans for transformational development where the state is the key investor. Ansari sees this market view persisting, given expectations that oil prices will remain subdued. The weakness has been broad-based, with only 23 out of 253 Tadawul members trading in the green so far in May, according to data compiled by Bloomberg. Al Rajhi Bank, the kingdom's largest lender by market capitalization, and utility ACWA Power Co. have been the biggest drag by index points. Brent oil is trading around $65 a barrel, well short of levels Saudi Arabia needs to cover its outlays. First-quarter data showed the government needed crude at $96 to balance its budget, rising to $113 when the sovereign wealth fund's domestic spending plans are included, according to Bloomberg Economics' Ziad Daoud. Those thresholds are both at the highest since at least 2016, when Saudi Arabia launched its Vision 2030. Dominic Bokor-Ingram, a fund manager at Fiera Capital, said the timing on some 'aspirational mega projects' could be pushed back by financial constraints, a near-term challenge to his bullish view overall on the Tadawul. The breakeven level for oil required by the Saudi economy is higher than regional peers, he said. 'Oil prices are a headwind for them, and force the country to make capital allocation decisions that they wouldn't need to if oil prices were higher at around $100,' according to Bokor-Ingram. The Organization of the Petroleum Exporting Countries and its partners will gather online on Wednesday to review production quotas for this year and next. Eight key members will decide at the weekend whether to bolster output again in July. Goldman Sachs Group Inc. warned last month that Saudi Arabia's budget deficit may swell to $67 billion this year. That may force the government to borrow more and cut back on economic transformation plans. Still Bokor-Ingram bases his more optimistic long-term view on the Saudi market on expectations that the Vision 2030 plan is still intact and will keep luring investors. Given the potential for transformation in the economy, 'it's too much of a risk to ignore the Saudi market for an emerging-market investor,' he said. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
Mint
28-05-2025
- Business
- Mint
Saudi Stocks Set to Be World's Worst in May After Oil-Price Drop
(Bloomberg) -- Saudi Arabia's sliding stocks are on course to be the worst performers globally this month as falling oil prices prompt concerns of slower spending on mega projects in the kingdom. The Tadawul All Share Index has slumped 6.4% in May as of Tuesday's close, the most among 92 equity benchmarks tracked by Bloomberg. The Saudi gauge is also dropping for a fourth month, the longest losing streak since 2014. That's a sharp divergence with the broader emerging market index, which is heading for its best month since September and the longest sequence of gains for almost a year. Weakness in oil is at the heart of faltering sentiment toward Saudi stocks. Crude prices sank to a four-year low in early April, with the outlook clouded by trade tensions and increasing supply from OPEC members. That adds to pressure on Saudi finances after the kingdom reported the widest budget deficit since late 2021 in the first quarter. 'There are fears that the fall in oil revenues could affect the projects market,' said Junaid Ansari at Kamco Invest in Kuwait City, referring to plans for transformational development where the state is the key investor. Ansari sees this market view persisting, given expectations that oil prices will remain subdued. The weakness has been broad-based, with only 23 out of 253 Tadawul members trading in the green so far in May, according to data compiled by Bloomberg. Al Rajhi Bank, the kingdom's largest lender by market capitalization, and utility ACWA Power Co. have been the biggest drag by index points. Brent oil is trading around $65 a barrel, well short of levels Saudi Arabia needs to cover its outlays. First-quarter data showed the government needed crude at $96 to balance its budget, rising to $113 when the sovereign wealth fund's domestic spending plans are included, according to Bloomberg Economics' Ziad Daoud. Those thresholds are both at the highest since at least 2016, when Saudi Arabia launched its Vision 2030. Dominic Bokor-Ingram, a fund manager at Fiera Capital, said the timing on some 'aspirational mega projects' could be pushed back by financial constraints, a near-term challenge to his bullish view overall on the Tadawul. The breakeven level for oil required by the Saudi economy is higher than regional peers, he said. 'Oil prices are a headwind for them, and force the country to make capital allocation decisions that they wouldn't need to if oil prices were higher at around $100,' according to Bokor-Ingram. The Organization of the Petroleum Exporting Countries and its partners will gather online on Wednesday to review production quotas for this year and next. Eight key members will decide at the weekend whether to bolster output again in July. Goldman Sachs Group Inc. warned last month that Saudi Arabia's budget deficit may swell to $67 billion this year. That may force the government to borrow more and cut back on economic transformation plans. Still Bokor-Ingram bases his more optimistic long-term view on the Saudi market on expectations that the Vision 2030 plan is still intact and will keep luring investors. Given the potential for transformation in the economy, 'it's too much of a risk to ignore the Saudi market for an emerging-market investor,' he said. More stories like this are available on
