SASE:4325

2 stories mentioning SASE:4325Updated 21d ago

Every FINWIRES story that references SASE:4325, newest first.

Saudi Shares Start Week Higher Amid US-Iran Focus

The Tadawul All Share Index closed trading at 0.10% in the green as the latest geopolitical updates of the US-Iran conflict took the global spotlight on Sunday.Iran and the US launched back-and-forth strikes against each other in Gulf states. The missile and drone attacks resulted in Iran closing the Strait of Hormuz again."Asian stocks rose sharply on Friday, led by chip and AI firms as investors brushed off concern over the stalled recovery of energy supplies through the critical Strait of Hormuz, with tit-for-tat attacks escalating between the U.S. and Iran. The renewed back-and-forth attacks have further eroded the fragile three-week-old ceasefire, bringing the spotlight back on oil prices and what they could mean for inflation and the global rates outlook," United Securities LLC said in a note.Looking ahead, the economic calendar will see the release of the US' June inflation print on Tuesday, with Saudi Arabia following suit on Wednesday.Back at home and on the corporate front, Knowledge Economic City Co. (SASE:4310) shares ticked up 1.11% as it signed a nonbinding term sheet to create a closed-ended private real estate investment fund for the Multaqa Almadinah project's Multaqa Hospitality Cluster 1.Meanwhile, Umm Al Qura for Development and Construction Co. (SASE:4325) entered into reservation deals with Watheeq Real Estate Opportunities Second Fund for the sale of three land plots in Makkah. Shares of the real estate developer closed 2.02% higher.

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Asia Markets91d ago

Tadawul Shares Start Week Flat as Corporate Earnings Roll In, OPEC+ Focus

The Tadawul All Share Index started the week subdued at 0.05% in the green on Sunday as investors focused on OPEC+'s next crude output policy after the United Arab Emirates' exit from the group.The seven members of the OPEC+ agreed to raise crude production in June by 188,000 barrels per day, with the group continuing to monitor market conditions for market stability. Saudi Arabia, the de facto leader of the group, will be required to produce 10.3 million barrels per day for the month.In other news, US President Donald Trump warned of the potential resumption of military strikes if Iran "misbehaves". On the Iranian side, Foreign Minister Seyed Abbas Araghchi said that it is open to diplomatic talks as long as the US switches its approach.Back at home, Arabian Centres Co. (SASE:4321), d/b/a/ Cenomi Centers, and Umm Al Qura for Development and Construction (SASE:4325) posted lower results for the first quarter of 2026. Meanwhile, SAL Saudi Logistics Services (SASE:4263) logged a 2.297% and 16.072% increase in net profit and revenue, respectively."Net profit increased by 2.3% compared to the same quarter last year, reaching SAR 156.6 million versus SAR 153.1 million. This increase was mainly driven by the growth in revenue from the Cargo Ground Handling Division, along with the Company's continued focus on enhancing operational efficiency, improving business agility, and optimizing costs, reflecting the overall resilience of its performance," SAL Saudi Logistics Services said in its report.SAL Saudi Logistics Services and Cenomi Centers ticked up at 0.30% and 1.99% at closing, while Umm Al Qura for Development closed 0.99% lower.Looking ahead to the week, the economic calendar will see the release of Saudi Arabia's April edition of the Riyad Bank Purchasing Managers' Index on Tuesday, and the April unemployment figures of the US on Friday.

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