4 stories mentioning SASE:1111
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Goldman Sachs on Thursday decreased the price target for bourse operator Saudi Tadawul Group (SASE:1111) to 160 Saudi riyals from 172 riyals and kept its neutral rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
The Tadawul All Share Index closed Wednesday 0.52% in the red as investors tuned in to the latest updates regarding the peace deal between the US and Iran.A Pakistani source reportedly said that the US and Iran are set to finalize a one-page memorandum to conclude the Middle Eastern conflict. The 14-point deal reportedly included the unfreezing of Iranian funds, sanctions lifts, and others.In other news, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, lowered North West Europe, Mediterranean, and Asian main crude oil prices in June. Price tags for the North American region, meanwhile, were unchanged. Aramco shares closed 2.81% lower."Oil prices are under renewed pressure as the ceasefire between the US and Iran appears to be holding despite recent escalation in the Persian Gulf," ING said in a note. "Saudi Arabia cut its official selling price for its flagship Arab Light to Asia for June. The OSP was cut from a record US$19.50/bbl premium over the benchmark in May to US$15.50/bbl. This is still the second-highest OSP on record. Crucially, this price assumes loadings from Ras Tanura, which sits in the Persian Gulf. This is clearly not happening. Instead, crude is being loaded at Yanbu on the Red Sea coast. As a result, final prices may be higher to reflect the logistical costs of shipping from the Red Sea."Back at home, earnings from insurance companies largely dominated headlines in Saudi Arabia. Gulf Insurance Group (SASE:8250), The Co. For Cooperative Insurance (SASE:8010), d/b/a Tawuniya, posted higher results for the March quarter. However, Malath Cooperative Insurance (SASE:8020) logged a decline in attributable profit and insurance revenue for the period.Gulf Insurance, Tawuniya, and Malath Cooperative all closed higher at 9.08%, 6.20%, and 1.35%, respectively.Meanwhile, Saudi Tadawul Group (SASE:1111) ticked up 2.25% after its board recommended to repurchase up to 1,220,000 shares for its employee stock incentive plan.
Saudi Exchange-traded shares closed higher as investors turned their attention to the latest earnings by Saudi Arabian companies and the US Federal Reserve's highly anticipated interest rate decision on Wednesday.At the close of Monday trading, the Tadawul All Share Index closed in the green at 0.42%. Both Rabigh Refining and Petrochemical (SASE:2380), d/b/a Petro Rabigh, and Saudi Kayan Petrochemical (SASE:2350) led the charge at 9.96% at closing.The Fed is widely expected to keep the interest rates steady at its 3.50% to 3.75% range, with market watchers expecting to see clues for the group's next rate and policy moves."The Federal Open Market Committee is expected to keep policy steady next week, so our focus will be on any sign that the committee's assessment of the balance of risks has shifted since the mid-March meeting. There won't be updated economic projections to sort through, so any evidence of a change in FOMC members' thinking will come from the policy statement and Fed Chair Jerome Powell's press conference after the meeting," Oxford Economics said in a note.In other news, Reuters reported, citing sources from Pakistan, that Iran set out a new proposal for its peace talks with the US. The proposal covered guarantees that the US would not start the conflict again, the end of the blockade, among other things.Back at home, Saudia Dairy and Foodstuff (SASE:2270), d/b/a Sadafco, and Saudi Tadawul Group (SASE:1111) logged lower financial results for the first quarter of 2026. Arabian Cement Co. (SASE:3010), meanwhile, posted a 153.81% surge in its net profit and a 5.08% rise in sales.Sadafco and Saudi Tadawul Group closed 2.12% and 3.68% lower, while Arabian Cement shares ticked up 3.57%.
Roemer Capital on Thursday upgraded bourse operator Saudi Tadawul Group (SASE:1111) to buy from hold and raised its price target to 170.00 Saudi riyals from 146.00 riyals.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)