Tadawul Shares Close Wednesday Higher; US Inflation Cools
The Tadawul All Share Index closed 0.10% higher on Wednesday as market watchers turned their attention to the latest July inflation data of the world's top economy.The US annual inflation rate declined to 3.4% in July from 3.5% in June. Meanwhile, the core rate ticked down to 2.5% from 2.6%."We get updates on the two most important fundamental drivers of US Treasuries on Wednesday, namely US inflation and the fiscal deficit," ING said in a note. "Recently, the bigger attention has been more on the former than the latter, as upward pressure on energy prices in addition to prior tariff price hikes saw inflation print uncomfortably high. To the extent that these impulses have maxed out, there is a path ahead for easing in inflation as we progress through the remainder of 2026."Also making headlines is the continued conflict in the Middle East. Iran-aligned Houthi forces and the US reportedly launched separate attacks on vessels in the Gulf of Oman and at the Red Sea. The attacks are said to have caused casualties.Back at home, Basma Adeem Medical (SASE:9626), d/b/a Smile Care, gained 8.63% as it reported an 87.1% increase in attributable profit and 50.4% growth in sales for the six months ended June 30.Meanwhile, Alkhorayef Water and Power Technologies (SASE:2081) secured a 36-month contract to operate and maintain the water and wastewater networks in Al Khobar. Shares of the water and wastewater management company closed 0.76% in the green.
