Tadawul Shares End Tuesday Lower; Nice One Beauty Digital Marketing Drops
The Tadawul All Share Index closed Tuesday 0.85% in the red as investors keep their eyes on the latest updates regarding the operations of the Strait of Hormuz.Oman reportedly presented a joint regional mechanism proposal for the management of the Strait of Hormuz, Reuters reported, citing a Gulf source. The source said that the regional-backed proposal would not give Iran sole control of the strait, with fees only being voluntary contributions for navigation."And while Iran's Foreign Ministry suggested that no formal negotiations were taking place with the US, we saw continued reporting of talks between Iran and Oman on re-opening the Strait of Hormuz. There was also some more concerning news, not least with Houthi attacks on Saudi oil facilities over the weekend. But overall, the focus on talks sent front-month Brent crude -8.70% lower, while 6-month Brent futures were down -3.29% to $79.67/bbl," Deutsche Bank Research said in a note.Back at home, Mobile Telecommunication Co. Saudi Arabia (SASE:7030), d/b/a Zain KSA, reported mixed results for the first half of 2026. The telecommunications company logged an 84.09% jump in attributable profit, while revenue fell marginally for the six months ended June 30.Nice One Beauty Digital Marketing (SASE:4193), on the other hand, swung to a net loss for the six months ended June 30, with the e‑commerce company's revenue declining 6.396% in the reporting six-month period.Zain KSA edged up 0.49%, while Nice One Beauty dropped 8.43%.Meanwhile, the board of Ayyan Investment Co. (SASE:2140) recommended decreasing its capital to 757.6 million Saudi riyals to offset its accumulated losses and reduce excess capital. Shares of the real estate investor closed 9.99% in the red.
