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THE WRAP ยท THU, NOV 5
10,095.42 โฒ 0.56%
Tadawul All Share Index (TASI)
Up 57 points on Thursday, holding above 10,000 for a second day.
Insurance led with a 3% gain. Real estate, capital goods and energy lagged.
Maaden, Al Rajhi Bank and Sulaiman Al Habib did much of the lifting, Asharq Business reported.
About 4.2 billion Riyal ($1.1 billion) changed hands.
โฒ WHY THEY GAINED
Insurer Tawuniya +9.98% ยท SR88.75
Hit the 10% daily limit after one of the Kingdom's two biggest insurers said its third-quarter profit jumped 74% and beat forecasts by more than 40%. Read the story.
Cold-storage maker CGS +9.93% ยท SR6.75
Consolidated Grunenfelder Saady makes refrigerated containers, cold stores and cooling units for food trucks, serving farming, pharma and logistics. It also hit the daily limit, with no new company news.
Sinad Holding +6.28% ยท SR6.94
The Dallah Albaraka-backed group, which makes dairy, juices and Saudi thobes, said third-quarter revenue rose 11% to 499 million Riyal ($133 million) and it swung to a small profit.
Liva Insurance +5.57% ยท SR12.88
The smaller insurer reported a 44% jump in third-quarter profit to 16 million Riyal on Monday, and rode Thursday's sector rally.
โผ WHY THEY LOST
Al Etihad Cooperative Insurance โ7.34% ยท SR5.43
The one insurer to miss the rally. Its third-quarter loss widened 16% to 39 million Riyal ($10 million), and it said accumulated losses have reached 50.4% of its capital.
Food group Savola โ5.65% ยท SR23.54
Its nine-month profit fell 22% as last year's tax windfall dropped out, and its Panda supermarkets swung to a loss. Read the story.
Refiner Petro Rabigh โ5.34% ยท SR14.55
Fell as Brent slid toward $94 a barrel, after an 8% drop the day before. Energy was among the weakest sectors.
Gym operator Leejam โ4.34% ยท SR75
Slipped during the session. After the close, it disclosed the expected hit from higher commercial power and water tariffs from January.
THE WEEK ยท NOV 1โ5
+1.75% ยท up 174 points from 9,921.50
Sunday โผ 0.84% ยท Monday โฒ 0.45% ยท Tuesday โผ 0.07% ยท Wednesday โฒ 1.65% ยท Thursday โฒ 0.56%
Wednesday did most of the work: the index jumped back above 10,000 after its lowest closes since 2021, with gold lifting the miners.
About 18.8 billion Riyal ($5 billion) traded over the week.
Still down nearly 4% this year.
WHAT MOVED THE WEEK
Earnings season. Aramco beat forecasts on Tuesday, Flynas' profit sank 78% on fuel costs, and Tawuniya, Savola and AFG reported on Thursday.
Oil. Brent dropped from above $100 to near $94 as investors bet on calmer US-Iran relations after the US midterms.
The state's books. The budget deficit nearly used up its full-year forecast in nine months.
Deals. Aramco bought 49% of Humain, and Germany's Knauf moved to take United Mining private.
WHAT TO WATCH NEXT WEEK
The last third-quarter results from mid-caps, and whether oil keeps sliding.
The Hajj Conference in Jeddah, Nov 8โ11.
Knauf's United Mining deal settles on Nov 18. Aramco pays its dividend on Nov 25.
Data: Saudi Exchange. Index drivers: Asharq Business.
