Tadawul Shares End Week Lower as Saudi Industrial Production Falls in May
The Tadawul All Share Index closed out the week 0.42% lower as the decline in Saudi Arabia's industrial production activity weighed on investor sentiment on Thursday.Official preliminary data from Saudi Arabia's General Authority for Statistics showed that the industrial production index dropped 18.7% year over year in May. Month over month, industrial production rose 3.2%."The index of oil activities in May 2026 decreased by 26.3% compared to the same month of the previous year, The index of non-oil activities decreased by 0.6%. Based on the month-on-month trend, the index for oil activities increased by 4.3%, and the index of non-oil activities increased by 1.3," the statistics agency said in its report.Meanwhile, the kingdom's business confidence index in June came in at 56.6 points, up from 55.6 in May. Data also showed that the separate industry, construction, and services confidence indices all increased during the period.Also dampening sentiment is the re-escalation of the US-Iran conflict. The US launched attacks on Iran, while the Middle Eastern country sent out strikes on Bahrain and Kuwait in retaliation.Back at home and on the corporate front, Al Mohafaza Co. for Education (SASE:9598) shares closed 1.13% lower as it entered into a four-year agreement to execute educational and training programs with Sulaiman Bin Abdulaziz Al Rajhi Education and Development Co.
