Saudi Market Recap (2.25-2.28)

    The weekly review highlights the slight decrease in the Tadawul All Shares Index by 0.18%, amidst crude oil's potential second monthly gain due to OPEC supply cuts and geopolitical tensions. Goldman Sachs adjusted its Brent forecast to $87 per barrel for summer 2024, citing disruptions and stock draws. Corporate updates include Saudi Steel Pipe's significant profit increase and stock surge, Gas Arabian Services receiving intent letters for projects with Saudi Aramco, and other companies experiencing notable stock movements. Modern Mills Co. set its IPO price after an oversubscribed book-building, and Avalon Pharma's stock soared on its listing day. Saudi Aramco is boosting production and has made substantial procurement agreements to support the local economy. Looking ahead, the start of Ramadan and earnings reports from Tadawul Group and Sipchem are key events to watch.

    The Information presented above is for information purposes only, which shall not be intended as and does not constitute an offer to sell or solicitation for an offer to buy any securities or financial instrument or any advice or recommendation with respect to such securities or other financial instruments or investments. When making a decision about your investments, you should seek the advice of a professional financial adviser and carefully consider whether such investments are suitable for you in light of your own experience, financial position and investment objectives.
    IN NO EVENT SHALL SAHM CAPITAL FINANCIAL COMPANY BE LIABLE FOR ANY DAMAGES, LOSSES OR LIABILITIES INCLUDING WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL DAMAGES, LOSSES OR LIABILITIES, IN CONNECTION WITH YOUR RELIANCE ON OR USE OR INABILITY TO USE THE INFORMATION PRESENTED ABOVE, EVEN IF YOU ADVISE US OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.
    Every question you ask will be answered
    Scan the QR code to contact us
    whatsapp
    Also you can contact us via