Tadawul Shares Start Week Lower Amid Failed US-Iran Negotiations
The Tadawul All Share Index closed Sunday trading 0.25% lower amid market jitters as the US and Iran walked away from their discussions in Pakistan without coming to an agreement.The Iranian delegation cited the US' lack of trust in its "forward-looking initiatives" and "excessive demands" as some of the reasons why the talks failed."We consider every mirror to be another method of authority diplomacy, alongside military struggle, for upholding the rights of the Iranian nation, and we will not for a moment cease our efforts to consolidate the achievements of the forty days of Iran's national defense," Iran's Parliament Speaker Mohammad Baqer Qalibaf said in an X post.Further to this, Pakistan's Foreign Minister Ishaq Dar noted that it is "imperative" that both sides hold up their two-week ceasefire deal, which started on April 8.Back at home, Ades Holding (SASE:2382) shares closed 1.21% in the green as it secured a one-year extension to its premium jackup rig drilling contract with Chevron Nigeria.Meanwhile, Al Kuzama Trading (SASE:9636) is poised to take a 25% stake in Unique Food Catering Co. from its owner, Bandar Khalid Abu Saman. The restaurant chain operator will purchase the stake for 35 million Saudi riyals. Shares surged 8.91% at closing.
