FINWIRES · TerminalLIVE
FINWIRES

Saudi Shares Rise as Oil Prices Ease, PMI Hits Six-month High

By

Saudi Exchange-traded shares edged higher on Thursday as investors assessed a decline in oil prices amid comments from US President Donald Trump, alongside the latest PMI data.

The Tadawul All Share Index was 0.24% in the green at the end of the trading week.

"Oil paused a three-day rally after President Donald Trump played down the prospect of a prolonged conflict with Iran," United Securities said in a note. "Crude oil eased below $91 per barrel on Thursday after rising for three consecutive sessions, as investors assessed renewed hostilities in the Middle East alongside efforts to reopen the Strait of Hormuz. President Donald Trump said the latest attacks on Iran would be short-lived despite indicating that the US remains prepared for further strikes, while reiterating claims that the US controls Hormuz."

In economic news, Saudi Arabia's non-oil private sector expanded at its fastest pace in six months in August, supported by stronger demand and market activity recovery, with output volumes recording the strongest increase since the start of 2026. The Riyad Bank Saudi Arabia PMI stood at 53.8 in August, up from 53.1 in July. While the latest reading reflected growth in the sector for the fifth successive month, it remained below the survey's long-run average of 56.8.

"Looking ahead, the improvement in business expectations provides a constructive signal for the remainder of the year," Riyad Bank Chief Economist Naif Al-Ghaith said. "Overall, the August survey signals a firmer growth trajectory for the non-oil private sector, with improving business confidence and sustained domestic activity providing a constructive foundation for growth through the remainder of 2026."

On the corporate front, Dar Almarkabah for Renting Cars (SASE:9577) signed a six-month nonbinding memorandum of understanding for the acquisition of food and beverage holding company Zad International Co. The car rental company closed 7.78% in the red.

Next week, analysts will focus on the kingdom's final second-quarter gross domestic product data. Based on preliminary data, the economy shrank 4.8% year over year in the second quarter, reversing the 3% growth seen in the first quarter.

Related Articles

Asia Markets

Update: US Equity Indexes Close Higher Amid Declining Treasury Yields, Rising Crude Oil

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose on Wednesday as government bond yields fell and crude oil climbed amid concern that hostilities between Washington and Tehran are taking a turn for the worse.The Nasdaq Composite rose 0.5% to 26,217.83, the S&P 500 climbed 0.5% to 7,666.60, and the Dow Jones Industrial Average advanced 0.6% to 53,061.95.All sectors, except real estate, rose. Materials and communication services topped the gainers.The additional strikes Tuesday on Iran led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes in over a month. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social on Tuesday.US Secretary of State Marco Rubio said Iran will "continue to feel the squeeze" from the United States until it drops any nuclear weapons ambitions and ends support for armed groups in the Middle East, the Associated Press reported.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.The Iranian attacks "constitute a flagrant violation of sovereignty," the United Arab Emirates' Foreign Ministry said in a statement, Al Jazeera reported. The ministry reiterated its "support for all measures aimed at safeguarding" the "security and stability" of countries pulled into the war, the news report said.The front-month US West Texas Intermediate crude oil contract rose 0.6% to $90.75 per barrel, and global benchmark North Sea Brent climbed 0.8% to $95.37 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields fell. The 10-year yield declined 1.6 basis points to 4.78%. The two-year yield declined 2.7 basis points to 4.37%.Gold futures advanced 0.9% to $4,436.3, and silver futures marched 0.9% higher to $65.94.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000."Pay can tell us a lot about today's choppy hiring," said Nela Richardson, chief economist at ADP. "To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs."New orders for US factory goods rose 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June. Excluding a 2.3% increase in transportation orders, new orders would have been up 0.6% after a 0.1% decline in June.Dell Technologies (DELL) jumped 16%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP adjusted earnings and revenue, and raised its fiscal 2027 guidance.Palo Alto Networks (PANW) sank 9.3%, the worst performer on the S&P 500 and the Nasdaq, as the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

Dow JonesNasdaq CompositeS&P 500$DELL$PANW
Asia Markets

Update: US Equity Indexes Rise Amid Lower Treasury Yields, Higher Crude Oil

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose after midday Wednesday, while government bond yields slipped and crude oil prices advanced amid a worsening of hostilities against Iran.The Nasdaq Composite rose 0.3% to 26,177.4, the S&P 500 climbed 0.4% to 7,660.9, and the Dow Jones Industrial Average advanced 0.4% to 52,955.4. All sectors, except consumer discretionary and real estate, rose. Communication services and materials topped the gainers.The additional strikes Tuesday on Iran led to Tehran attacking Jordan, Bahrain and Kuwait even though US President Donald Trump had warned that Iran would be "hit much harder" if it retaliated to the first strikes in over a month. "They will be hit again at a much harder and higher level, but it will not be the biggest attack of them all, that is waiting in the wings and, when it is over, there will be very little left of the Islamic Republic of Iran!" Trump posted on Truth Social on Tuesday.The Iran Revolutionary Guards Corps said two oil tankers exploded after hitting a mine and are now on fire, Al Jazeera, a Middle Eastern broadcaster, reported Wednesday.The front-month US West Texas Intermediate crude oil contract rose 0.7% to $90.89 per barrel, and global benchmark North Sea Brent climbed 1% to $95.61 per barrel. Both crude types were down by more than 0.5% earlier in the session.Most US Treasury yields slipped, albeit moderately. The 10-year yield edged down by less than one basis point to 4.8%. The two-year yield slipped less than one basis point to 4.39%.Gold futures advanced 0.4% to $4,415.3, and silver futures marched 0.2% higher to $65.52.Meanwhile, ADP's monthly measure of private payrolls showed a 38,000 increase in August, below a 47,000 gain expected in a Bloomberg-compiled survey, following a 46,000 increase in July. Service-providing jobs climbed 48,000, with education and health services jobs up 45,000, while manufacturing sector jobs contracted 17,000."Pay can tell us a lot about today's choppy hiring," said Nela Richardson, chief economist at ADP. "To understand hiring patterns, you have to look deeply into where pay growth is accelerating, where it's slowing, and for whom. Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs."New orders for US factory goods rose 0.9% in July, above expectations for a 0.7% increase in a survey compiled by Bloomberg and following a 0.2% decrease in June. Excluding a 2.3% increase in transportation orders, new orders would have been up 0.6% after a 0.1% decline in June.Dell Technologies (DELL) jumped 9.4%, the top gainer on the S&P 500, after the company reported higher fiscal Q2 non-GAAP earnings and revenue, and raised its fiscal 2027 guidance.Palo Alto Networks (PANW) sank 11%, the worst performer on the S&P 500 and the Nasdaq, as the cybersecurity firm's fiscal Q4 adjusted gross margin declined year over year.

Dow JonesNasdaq CompositeS&P 500$DELL$PANW
Asia Markets

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) gained 0.1%.US equity indexes rose as crude oil prices and government bond yields fluctuated.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.2%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) edged down 0.3%; iShares US Technology ETF (IYW) rose 0.2%, and iShares Expanded Tech Sector ETF (IGM) slipped 0.2%.The State Street SPDR S&P Semiconductor (XSD) added 0.4%, while iShares Semiconductor (SOXX) was up 0.1%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) advanced 2.1%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), declined 2%.CommoditiesCrude oil rose 1.1%, and the United States Oil Fund (USO) added 0.3%. Natural gas gained 2.4%, and the United States Natural Gas Fund (UNG) was up 0.2%.Gold on Comex added 0.4%, and the State Street SPDR Gold Shares (GLD) was up 1%. Silver rose 0.2%, and iShares Silver Trust (SLV) gained 1.3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) added 0.7%. The Vanguard Consumer Staples ETF (VDC) gained 0.6%, and iShares Dow Jones US Consumer Goods (IYK) was up 1%.The State Street Consumer Discretionary Select Sector SPDR (XLY) added 0.3%. VanEck Retail ETF (RTH) was 0.4% higher, and the State Street SPDR S&P Retail (XRT) advanced 1%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 0.8%. iShares US Healthcare (IYH) and Vanguard Health Care ETF (VHT) were also higher. IShares Biotechnology ETF (IBB) added 0.5%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) was down marginally. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) was flat, ProShares Ether ETF (EETH) fell 1.3%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) slipped 0.2%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH