Tadawul Shares End Wednesday Higher on US-Iran Deal Optimism
The Tadawul All Share Index closed trading 0.27% in the green as optimism regarding the potential end of the US-Iran conflict boosted investor sentiment on Wednesday.US President Donald Trump signaled that the country and Iran were having "very good discussions" regarding the end of their conflict, as well as the reopening of the Strait of Hormuz. Reuters reported, citing sources, that the two countries are reportedly set to conclude talks for an interim agreement for the operations of the strait."Qatar said that a draft proposal had been circulated between the parties, whilst Treasury Secretary Bessent suggested that an agreement to reopen shipping flows could be reached 'today or tomorrow'. Axios then reported last night that the US is hoping for a Wednesday announcement of an interim deal that would see a temporary 60-day arrangement between Iran and Oman under which Gulf-bound vessels would pass through Iranian waters, whilst vessels leaving the Gulf would be able to travel through Omani waters with no fees being charged during the 60-day period," Deutsche Bank Research said in a note.Back at home, Alamar Foods Co. (SASE:6014) and Lumi Rental Co. (SASE:4262) reported higher net profit and revenue for the first half of 2026. Saudi insurance company Gulf Union Alahlia Cooperative Insurance (SASE:8120) swung to a profit for the six months ended June 30, while peer Allied Cooperative Insurance Group (SASE:8150) turned to a loss during the reporting period.Alamar, Gulf Union, and Allied Cooperative Insurance shares rose 2.11%, 2.54%, and 9.95%. Lumi Rental, on the other hand, closed 4.82% in red.In other news, Dar Al Majdiah Real Estate (SASE:4326) shares ticked up 1.36% as it entered into a 30-month deal to act as the master developer of a residential real estate project in Makkah.
