Saudi Shares Close Wednesday Higher on Iran-Oman Talks Optimism
Saudi Exchange-traded shares closed Wednesday's trading session higher as optimism regarding the Iran-Oman talks over the Strait of Hormuz pushed the Tadawul All Share Index 0.25% in the green.Iran and Oman held discussions about forming a joint temporary navigational corridor on the Strait of Hormuz, which aims to restore navigation on the shipping waterway, Reuters reported."Meanwhile, Iran and Oman appear closer to an agreement on shipping routes through the Strait of Hormuz. However, any agreement between these two parties does not mean we will see normalisation in oil flows through the key chokepoint. We would likely need to see the US lift its blockade on Iranian ports and ease sanctions on Iran before we see any move towards normalisation," ING said in a note.In other news, market watchers are also expected to pay close attention to multiple US Fed speeches at the three-day Jackson Hole Economic Policy symposium, which will run from Thursday to Saturday.Back at home, Al Ashghal Al Moysra (SASE:9608) and Naba Alsaha Medical Services (SASE:9546) posted higher attributable net profit and revenue for the first half of 2026.Al Ashghal and Naba Alsaha closed 12.34% and 4.73% higher, respectively.Meanwhile, Scientific and Medical Equipment House (SASE:4014) shares edged down 0.07% as it entered into a deal to deliver clinical medical support services and equipment upkeep services for King Khalid University.
