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Saudi Equities Start Week Lower As Middle Eastern Conflict Continues

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Saudi Exchange-traded shares closed lower on Sunday as the new geopolitical developments in the Middle East pushed the Tadawul All Share Index 0.56% in the red.

The US is looking into using Iran's assets to repair the damage caused by the Middle Eastern country to its Gulf neighbors. US Treasury Secretary Scott Bessent's statement after it was disclosed that having its assets unfrozen is a requirement for its peace deal with the US.

Meanwhile, the members of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, will reportedly increase their oil output targets by 188,000 barrels per day in July, the same as the prior month.

Back at home and on the corporate front, Aldawaa Medical Services (SASE:4163) ticked down 2.55% at closing as it reported a 78.84% year-over-year drop in attributable net profit and a 7.18% annual decline in its revenue for the first quarter ended March 31.

"Net profit for the first quarter of 2026 decreased by SAR 83 million, or 78.8%, compared to the same period of the last year, primarily driven by the corresponding decline in revenue and gross profit, while maintaining a broadly stable gross margin of 35.6%. The decline is also contributed by higher operating expenses and non-recurring items during the period as below," the medical services company said in its report.

Looking ahead into the week, the local economic calendar will see the release of the kingdom's final GDP growth rate numbers for the first quarter on Tuesday, and the April industrial production data on Wednesday.

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