-- The Tadawul All Share Index closed the week lower at 0.30% in the red on Thursday as market watchers tuned in to the latest updates on geopolitical conflicts between the US and Iran, as well as Ukraine and Russia.
Reuters reported, citing sources in Pakistan, that the Iran-US war might end soon as "sticky issues" regarding its previous failed deal have made progress. The foreign ministry of Pakistan also confirmed that both sides are willing to continue negotiations, with the US side saying that talks were "productive and ongoing."
"US-Iran talks may resume in Pakistan this weekend after previous discussions stalled, although no date has been set yet. The Trump administration expressed optimism on Wednesday about resolving the conflict; President Trump stated in an interview with Fox News that the Iran war is 'almost over'," Danske Bank said in a note.
On the other hand, dampening sentiment is Russia's newest attack in Ukraine. The strikes in Kyiv and Odesa resulted in casualties, injuries, and property damage.
Back at home, Jarir Marketing (SASE:4190) shares gained 2.77% as it logged an estimated 16.658% annual increase in attributable net profit and a 14.371% rise in revenue in the first quarter.
Meanwhile, Cherry Trading Co. (SASE:4265) entered a 36-month leasing contract for 275 vehicles. Shares of the car rental and leasing company closed 0.16% lower.