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SASE:1120

13 stories mentioning SASE:1120Updated 7d ago

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Asia Markets

Saudi Shares Start Week Higher Amid OPEC+ Meeting Focus

The Tadawul All Share Index started the week higher at 0.32% in the green on Sunday as market watchers focus on the results of OPEC+'s latest meeting on crude production levels.The members of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, kept their crude production levels for October unchanged. Saudi Arabia will produce 10.5 million barrels per day during the month.In international news, investors are focused on the latest updates regarding the US-Iran conflict as the two exchanged attacks over the weekend. Market watchers are concerned about the prolonged war's effect on crude supply, as well as prices."Oil prices are still holding most of their recent gains, but those could prove fragile. If Strait of Hormuz flows continue uninterrupted despite the latest escalation, the upward pressure on prices may begin to fade," ING said. "The latest data from Insights Global shows that refined product inventories in the ARA region fell by 118kt week-on-week to 4.15mt. The decline was led by naphtha, gasoil and jet fuel. With gasoil inventories at 1.61mt, they are now seasonally below 2022 levels. Unless Persian Gulf and/or Russian diesel flows recover, the market is likely to tighten further as we head towards winter."Back at home and on the corporate front, Al Rajhi Bank (SASE:1120) closed its tier 2 social trust certificates offer totaling $600 million. The 3,000-sukuk offering was available to eligible investors. Shares of the lender closed 0.68% higher.Meanwhile, Dar Albalad for Business Solutions (SASE:7205) shares ticked up 1.33% at closing as it entered into a six-month memorandum of understanding to potentially purchase Clouding Computer Systems and Clouding Intelligence Computer Systems.

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Research

HSBC Lowers Al Rajhi Bank's PT, Keeps Buy Rating

HSBC on Wednesday decreased the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 78 Saudi riyals from 84 riyals and affirmed its buy rating.

SASE:1120
Equities

Saudi Exchange Clears SNB Capital as Market Maker for Five Companies

The Saudi Exchange cleared SNB Capital to perform market-making activities in MT30 Index Futures and Single Stock Futures on five companies, effective Aug. 19.The companies include Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, Saudi Telecom (SASE:7010), d/b/a stc, Saudi Arabian Mining (SASE:1211), d/b/a Ma'aden, Saudi National Bank (SASE:1180), and Al Rajhi Bank (SASE:1120), according to a Wednesday release.The approval forms part of broader measures by the Saudi Securities Clearing Centre, or Muqassa, to strengthen the country's derivatives market. The measures include lower trading, clearing and regulatory fees, and a one-year waiver on futures transaction and final settlement fees, alongside additional fee waivers.Saudi Exchange also signed agreements with SNB Capital for several market makers, including Corvus, Binevenagh, BLS Futures, Eighteen Eight Solutions and MET Traders, which began providing liquidity in August.

SASE:1120SASE:1180SASE:1211SASE:2222SASE:7010
Research

Citi Lowers Al Rajhi Bank PT, Keeps Buy Rating

Citi on Friday lowered the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 71 Saudi riyals from 75 riyals, while maintaining its buy rating.

SASE:1120
Research

UBS Trims Al Rajhi Bank PT, Keeps Neutral Rating

UBS on Wednesday decreased the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 69 Saudi riyals from 72 riyals and maintained its neutral rating.

SASE:1120
Research

Riyad Capital Upgrades Al Rajhi Bank to Buy

Riyad Capital on Tuesday upgraded Saudi Arabian lender Al Rajhi Bank (SASE:1120) to buy from neutral and kept its price target at 76.67 Saudi riyals.

SASE:1120
Asia Markets

Tadawul Shares End Tuesday Lower Amid Houthis-declared Naval Blockade on Saudi Arabia

The Tadawul All Share Index closed 0.40% in the red on Tuesday as Iran-aligned Houthis declared a naval blockade on Saudi maritime traffic in the Red Sea, threatening global energy supplies and trade in the Middle East.Crude oil soared to $90.778 per barrel as traders balanced escalating conflict and volatility in the Middle East amid news of a potential 10-day ceasefire proposed by mediators to resume negotiations between Iran and the US."With the Gulf's primary maritime outlet largely closed, the market is increasingly dependent on Saudi Arabia's East-West pipeline and Red Sea terminals to maintain export flows. Any disruption at Bab el-Mandeb would therefore threaten not only Saudi shipments but one of the few remaining routes capable of compensating for the severe reduction in Hormuz traffic," Rystad Energy senior vice president and head of geopolitical analysis Jorge Leon commented. "If a ceasefire does not materialize and Hormuz remains largely closed while the Houthi threat to Red Sea shipping intensifies, the risk of a significant rebound in oil prices would be substantial."At home, AlJazira Capital expects Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to report "steady" second-quarter results with net income expected to jump 39.7% year over year, while revenue is anticipated to rise 12.6%. The Saudi state-owned oil giant's shares declined 0.37% at close.On the earnings front, Alinma Bank (SASE:1150), Al Rajhi Bank (SASE:1120), and the Saudi National Bank (SASE:1180) reported higher year-over-year attributable profit and total operations profit for the first half of 2026. Alinma Bank and Al Rajhi Bank's shares closed 4.43% and 1.84% in the red, respectively, while the Saudi National Bank ended trading 0.62% in the green.Saudi Awwal Bank (SASE:1060), on the other hand, logged a higher net profit for the six months ended June 30, while total operations profit fell year over year. The Saudi Arabia-listed lender's shares fell 0.80% at closing.

^TASISASE:1060SASE:1120SASE:1150SASE:1180SASE:2222
Research

Citi Trims Al Rajhi Bank's PT, Keeps at Buy

Citi on Tuesday decreased the price target for Saudi Arabian lender Al Rajhi Bank (SASE:1120) to 75.00 Saudi riyals from 76.00 riyals and affirmed its buy rating.

SASE:1120
Research

Roemer Capital Lowers Al Rajhi Bank PT, Keeps Hold Rating

Roemer Capital on Wednesday decreased its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 68.80 Saudi riyals from 73 riyals and kept its hold rating.

SASE:1120
Research

Securities & Investment Cuts Al Rajhi Bank PT, Keeps Neutral Rating

Securities & Investment Company on Thursday reduced its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 78 Saudi riyals from 108 riyals and kept its neutral rating.

SASE:1120
Research

FAB Securities Upgrades Al Rajhi Bank to Accumulate, Raises PT

FAB Securities on Thursday upgraded Saudi Arabian lender Al Rajhi Bank (SASE:1120) to accumulate from hold and increased its price target to 78.00 Saudi riyals from 73.33 riyals.

SASE:1120
Asia Markets

Saudi Shares End Tuesday in Red Amid Jitters on US-Iran Meeting Uncertainty

The Tadawul All Share Index closed Tuesday 0.19% in the red as market jitters regarding the uncertainty of the US-Iran peace talks happening sent investors into risk-off mode.As the end of the two-week ceasefire looms, Iran and the US are set to meet in Islamabad, Pakistan, on Wednesday, Reuters reported, citing a Pakistani source. The US will send Vice President JD Vance for the discussions, with the Iranian delegation sending uncertain signals about its participation."Various reporting suggests that Vice President Vance is expected depart to Islamabad today, and we also saw reporting by the New York Times and others that Iran is also sending a team to Islamabad for negotiations. With a spokesman for Iran's foreign ministry earlier saying that Tehran had no plans to attend the negotiations, this has given a more positive light on the talks going ahead, though it remains unclear who would lead the Iranian delegation," Deutsche Bank Research said in a note.Back at home, Saudi National Bank (SASE:1180), Riyad Bank (SASE:1010), Al Rajhi Bank (SASE:1120), and Arab National Bank (SASE:1080) posted their financial statements for the first quarter of 2026. All four stocks logged higher net profit and total operations profit for the three months ended March 31."SNB reported SAR6,423mn net income for 1Q26, 1.7% above consensus (Visible Alpha), 2.2% above BofAe, +0.6% QoQ. The bottom line was helped by net release of provisions (-32bpt CoR), which has offset lower than we had expected revenue and higher costs. In the balance sheet, loan growth came in moderate, while deposits accelerated, bringing Loan / Deposit Ratio down," BofA Global Research said.Saudi National Bank and Riyad Bank declined 2.40% and 0.23%, respectively, while Al Rajhi Bank closed 0.42% higher and Arab National Bank ended the session 1.58% in green.Meanwhile, Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions', shares rose 0.68% as it secured a project to design, upgrade, and provide equipment for Saudi Telecom (SASE:7010), d/b/a stc, data centers. Stc shares closed 0.05% higher.

^TASISASE:1010SASE:1080SASE:1120SASE:1180SASE:7010SASE:7202
Research

Jefferies Lowers Al Rajhi Bank PT, Keeps Hold Rating

Jefferies on Sunday reduced its price target for Saudi Arabian lender Al Rajhi Banking and Investment (SASE:1120) to 103 Saudi riyals from 114 riyals, with an unchanged hold rating.

SASE:1120

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