Tadawul Shares Start Week Subdued; Saudi's Business Sentiment Remains Optimistic in July
The Tadawul All Share Index started the week muted at 0.05% in the green on Sunday as investors assessed Saudi Arabia's latest economic data and earnings updates.According to a report by the kingdom's General Authority for Statistics, the business confidence index in July came in at 56.5 points, slightly easing from 56.6 in the prior month. Data showed that the separate industry, construction, and services confidence indices all decreased during the period."The index reflects prevailing optimism in the business sector, supported by establishments' confidence in the stability of economic activity and continued growth across various sectors," the report said. "During July 2026, the BCI for the industry sector recorded an optimistic level of 54.7 points, despite a decline of 0.2 points compared to June 2026, when it reached 55.0 points. This decrease is attributed to a decline in confidence levels among industrial establishments, particularly in current input costs and their expectations regarding them for the coming month."Speaking of economic releases, the week will also see the release of Saudi Arabia's June industrial production data on Monday and its July inflation print on Thursday.Back at home, Obeikan Glass (SASE:4145), Shalfa Facilities Management (SASE:9613), and Saudi Manpower Solutions (SASE:1834), d/b/a Smasco, reported higher net profit and revenue for the first half of 2026. Miahona Co. (SASE:2084), on the other hand, logged a 90.74% decline in attributable net profit and a 35.36% decrease in revenue for the six months ended June 30.Obeikan and Shalfa closed 0.29% and 3.39% in the green, while Smasco and Miahona were 0.78% and 2.62% in the red.Meanwhile, Scientific and Medical Equipment House (SASE:4014) shares ticked up 0.29% as it secured a contract to provide medical operations and medical equipment maintenance services for the Security Aviation Leadership.
