Tadawul Shares Close Higher as Saudi PMI Stays in Expansion Territory in July
The Tadawul All Share Index closed higher on Tuesday at 0.32% in the green as investors assessed the kingdom's latest PMI report.The Riyad Bank Purchasing Managers' Index ticked down to 53.1 in July from 53.3 a month prior. Data showed resilient upturns in output and new orders, as well as an expansion in workforce numbers."Saudi Arabia's non-oil economy continued to demonstrate resilience in July, with the PMI registering 53.1, marking a fourth consecutive month of expansion despite a challenging regional environment. While the headline reading eased marginally from June's 53.3, it remains comfortably above the neutral threshold, highlighting that underlying business conditions continue to improve. The latest survey suggests that domestic demand is gradually strengthening as market conditions normalize following recent regional disruptions, supporting sustained increases in both output and new orders," Riyad Bank Chief Economist Naif Al-Ghaith commented.Back at home, the bourse's biggest company, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, reported a 33.274% increase in net profit and a 12.669% rise in revenue for the first half of 2026. The state-owned oil giant's shares closed 0.81% lower.Other Saudi-listed companies such as Saudi Energy Co. (SASE:5110), and Shatirah House Restaurant Co. (SASE:6016), d/b/a Burgerizzr, also reported higher financial results for the six months ended June 30. Malath Cooperative Insurance (SASE:8020), however, logged declines in attributable profit and insurance revenue.Burgerizzr closed 1.60% in the green, while Malath and Saudi Energy closed 1.95% and 2.60% in the red, respectively.Meanwhile, Arabian Internet and Communications Services Co. (SASE:7202), d/b/a Solutions, shares ticked up 1.28% as it entered into an 18-month contract to construct and prepare data centers in Dammam.
