Tadawul Shares End Sunday Muted; Mobily Ticks Up on Higher H1 Results
The Tadawul All Share Index was subdued at 0.03% in the red on Sunday as investors kept their attention on the newest updates in the US-Iran and Ukraine-Russia conflicts.The back-and-forth attacks between the US and Iran headed to its eighth consecutive day as the US launched airstrikes against the Middle Eastern country, while Iran struck US military assets in Kuwait, Bahrain, Jordan, and Saudi Arabia, media reports said.Market watchers are also focusing on the continued conflict between Russia and Ukraine. The Ukrainian capital of Kyiv was struck by missile attacks by Russian forces, which resulted in injuries, at least one casualty, and property damage.Back at home, Etihad Etisalat (SASE:7020), d/b/a Mobily, shares closed 0.73% in the green as it posted an 11.521% increase in net profit and a 5.35% rise in revenue for the six months ended June 30."Mobily also achieved remarkable financial and operational performance, driven by growth in revenue, EBITDA, and net profit, reflecting the successful execution of its strategy to strengthen operational efficiency while continuing to expand its digital infrastructure footprint. Across its business segments, the Company recorded notable achievements," the mobile telecommunications company said in its report.Meanwhile, the local economic calendar will see the release of Saudi Arabia's real estate price index for the second quarter on Monday, and its June construction cost index on Wednesday.
