Most Important News

1. US Pursues Fair Deal with Iran, Says Trump;
2. ADES to Acquire SAS from Saipem for SAR1.07B;
3. CHEMANOL Reports Widened Losses for 2025;
4. Alphabet to Join Dow Jones Industrial Average;

At the close of 23/06/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.35%, closing at 11033.99 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.98%, closing at 22998.68 points. 

On Tuesday, the Dow Jones Industrial Average(DJI.US) fell 0.09%, the S&P 500 index(SPX.US) dropped 1.44%, and the NASDAQ(IXIC.US) declined 2.21%. SpaceX(SPCX.US) gained 0.98%, while the PHLX Semiconductor(SOX.US) plummeted 7.87%. Sandisk Corporation(SNDK.US) and Micron Technology, Inc.(MU.US) fell over 13%, Arm Holdings(ARM.US) over 10%, QUALCOMM Incorporated(QCOM.US), Western Digital Corporation(WDC.US), and Applied Materials, Inc.(AMAT.US) over 8%, ASML Holding NV ADR(ASML.US) and Nuveen Select Tax-Free Income Portfolio(NXP.US) over 7%, Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) and Intel over 6%, Advanced Micro Devices, Inc.(AMD.US) over 5%, NVIDIA Corporation(NVDA.US) 4.15%, and Broadcom Limited(AVGO.US) over 3%.

International Investors Reach 160,700 in 2025; Net Investments Top SAR 225B

The number of international investors in Saudi Arabia's capital market reached 160,700 in 2025, a 9% increase from 2024, with net investments totaling SAR 225 billion. The Capital Market Authority highlights this growth as part of Saudi Vision 2030's strategy to attract foreign investment. 

Saudi Cabinet Approves Non-Saudi Property Ownership Regulations

On June 23, Saudi Arabia's Cabinet approved executive regulations for non-Saudi real estate ownership, including designated geographic zones. The law, effective since January 22, outlines procedures for foreign individuals and entities to acquire property. The regulations include fees for disposals and a framework for violations of the law. The Real Estate General Authority had previously sought public feedback on these regulations.

US Pursues Fair Deal with Iran, Says Trump

US President Trump stated on June 23 that the country is working toward a fair agreement with Iran to resolve conflicts in the Strait of Hormuz. He highlighted that 19 million barrels of oil passed through the strait on June 22 alone. Trump reiterated that Iran must not possess nuclear weapons and noted progress in related efforts.

KSA Stocks

ADES to Acquire SAS from Saipem for SAR1.07B 

Ades Holding Co.(2382.SA)'s subsidiary, ADES Saudi Limited, signed a sale agreement to acquire Saudi Arabian Saipem Limited for SAR 1.07 billion ($285 million), adding five premium jackups to its fleet. This strategic move enhances ADES's drilling capabilities in Saudi Arabia and Mexico, boosting its backlog by SAR 3.8 billion. The acquisition, funded through existing liquidity, is set to close in Q3 2026, pending regulatory approvals.

CHEMANOL Reports Widened Losses for 2025

Methanol Chemicals Co.(2001.SA) posted a net loss of SAR 479.7 million for 2025, up 72.17% from 2024, citing lower sales prices, reduced volumes, and higher feedstock costs. Subsidiary impairments and provisions further impacted results. Accumulated losses reached SAR 551.3 million, or 82% of capital. The board is addressing solvency under Saudi law, including legal actions over past acquisitions. A capital restructuring plan awaits shareholder approval on 14 July 2026.

Abo Moati Profit up 11% to SAR 24.6M in 2025/26

Abdullah Saad Mohammed Abo Moati for Bookstores Co.(4191.SA) (ABO MOATI) announced a net profit of SAR 24.61 million for the fiscal year ending March 31, 2026, reflecting an 11.21% increase compared to the previous year. Despite a 3.92% decline in sales to SAR 259.53 million, the company improved its profit margin due to changes in the sales mix and reduced selling and marketing expenses. Total comprehensive income rose by 18.65% to SAR 25.32 million, while shareholders' equity grew by 2.21% to SAR 245.69 million. Earnings per share increased to SAR 1.23 from SAR 1.11 in the prior year. The external auditor issued an unmodified opinion, and no significant issues were noted.

Takween Plans Capital Restructuring

Takween Advanced Industries Co.(1201.SA)'s board recommends reducing share capital from SAR 764.6 million to SAR 245.3 million, a 67.92% decrease, to offset losses. Following this, a SAR 400 million rights issue is proposed to enhance financial stability. The plan awaits approval from the Capital Market Authority and shareholders. No adverse effects on operations are expected. Updates will follow as developments occur.

Al Sagr Approved to Market Cyber Insurance in Saudi Arabia

Al Sagr Cooperative Insurance Co.(8180.SA) has received approval from the Insurance Authority to market and sell its cyber insurance product to group customers in Saudi Arabia. The product is approved under the identification number F-SAGR-1-C-26-047.

Salama Gains Approval for Insurance Products in Saudi Arabia

Salama Cooperative Insurance Co.(8050.SA) has received final approval from the Insurance Authority to market and sell two products: tourist visa insurance for individual tourists and premium residency insurance for individual and group customers in Saudi Arabia. The tourist visa insurance is identified as P-SALM-2-1-26-037, while the premium residency insurance is P-SALM-2-B-26-038.

USA Stocks

Alphabet to Join Dow Jones Industrial Average

S&P Dow Jones Indices announced that Alphabet Inc. Class C(GOOG.US) will be added to the Dow Jones Industrial Average(DJI.US), replacing Verizon Communications Inc.(VZ.US). Honeywell Aerospace Inc(HONAV.US) will join the S&P 500 and S&P 100, replacing Conagra Brands, Inc.(CAG.US) and remaining in the Dow. IES replaces Janus Henderson in the S&P MidCap 400, while Toast replaces Topbuild. This reflects a shift in US corporate dynamics, with tech giants dominating the market. Alphabet's stock split in 2022 enabled its inclusion.

Tesla's Q2 Deliveries and Possible Merger with SpaceX

Baird analyst Ben Kallo forecasts Tesla Motors, Inc.(TSLA.US) will deliver 392,900 vehicles in Q2, with 2026 deliveries reaching 1.68 million. He suggests a merger with SpaceX(SPCX.US) could occur within 12–18 months, benefiting both companies through increased scale. Kallo believes the merger is a clear strategic direction and maintains an "Outperform" rating for $TSLA with a target price of US$522.