Most Important News

1. Iranian Delegation Heads to Pakistan for Ceasefire Talks;
2. PIF and King Street to Launch Private Credit Fund;
3. Taiba Investments Co. Receives Approval for Capital Increase via Bonus Shares;
4. SAIB Launches SAR-Denominated AT1 Sukuk Issuance;

At the close of 08/04/2026, the Tadawul All Shares Index(TASI.SA) rose by 2.27%, closing at 11339.0 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 1.54%, closing at 22633.18 points. 

US stocks rallied on Wednesday, with all three major indices climbing over 2%. This upswing followed Pakistan's announcement of an immediate ceasefire agreement involving Iran, the US, and their allies, including Lebanon. Iran also stated that the Strait of Hormuz would be secure for navigation within two weeks. By closing, the S&P 500 index(SPX.US) rose 2.51% to 6782.81, the NASDAQ(IXIC.US) gained 2.8% to 22635, and the Dow Jones Industrial Average(DJI.US) increased 2.85% to 47909.92.

Iranian Delegation Heads to Pakistan for Ceasefire Talks

Iran's ambassador to Pakistan announced on social media that, despite repeated ceasefire violations by Israel, an Iranian delegation will arrive in Islamabad on April 9. Invited by Pakistan's Prime Minister, the delegation plans to engage in serious discussions regarding Iran's proposed ten-point ceasefire terms.

Read more: Trump says US military to stay around Iran until Tehran complies with deal

PIF and King Street to Launch Private Credit Fund

The Public Investment Fund (PIF) and King Street Capital Management signed a non-binding MoU to create a private credit fund. PIF will be a cornerstone investor, focusing on Saudi Arabia and the MENA region. The fund will provide tailored financing and asset-based lending, with flexibility for public market opportunities. Approval depends on regulatory and internal clearances, as well as final agreements.

KSA Stocks

Taiba Investments Co. Receives Approval for Capital Increase via Bonus Shares

Taiba Investments Co.(4090.SA) announced that the Capital Market Authority approved its plan to raise capital from SAR2.6 billion to SAR5 billion, a 91.97% increase. This will be achieved by granting 1 bonus share for every 1.09 shares held. The proposal will be presented to the Extraordinary General Assembly for final approval. Details on the assembly date will be announced later.

Saudi Industrial Development Co. Reports Elimination of Accumulated Losses

Saudi Industrial Development Co.(2130.SA) announced that its accumulated losses decreased from 26.64% of its capital as of September 30, 2025, to 0% as of December 31, 2025. The reduction was achieved through correcting accounting treatments related to its investment in Arabian Industrial Fibers Company and increasing its capital from SAR135 million to SAR300 million. An external auditor has confirmed the company’s financial position.

SAIB Launches SAR-Denominated AT1 Sukuk Issuance

Saudi Investment Bank(1030.SA) initiated the issuance of SAR-denominated Additional Tier 1 (AT1) sukuk on April 8 via private placement for qualified Saudi investors. The sukuk, with a minimum subscription of SAR 1 million, is perpetual but allows early redemption under specific conditions. Final terms, including size and return, depend on market conditions. 

Alkhorayef Water and Power Technologies Secures Contract for Jazan Region Water Network Maintenance

Alkhorayef Water and Power Technologies Co(2081.SA), Alkhorayef Water and Power Technologies Co., announced the signing of a contract with the National Water Company to operate and maintain water and wastewater networks in Jazan's Southern Sector. The contract, valued at SAR52.17 million, spans 36 months and will impact financials starting Q2 2026. The agreement was finalized on April 8, 2026.

Jarir Marketing Co. Opens New Showroom in Kuwait

Jarir Marketing Co.(4190.SA) has opened a new showroom at Kuwait's Gate Mall, investing SAR 15 million. This location replaces the previous Sama Mall site and spans 2,310 square meters, offering all product categories. Developed to high standards, the showroom aims to enhance the shopping experience. The financial impact is expected to begin in Q1 2026.

Read more:

• Saudi AZM Wins Engineering Arbitration Center Project
• ACWA POWER Co. Announces New Vice Chairman Appointment

USA Stocks

Intel Surges Over 9% on Musk Chip Project Collaboration

Intel Corporation(INTC.US) soared over 9% to US$57.71, reaching its highest level since April 2021. The surge followed Intel's announcement on social media about joining Elon Musk's major chip manufacturing project, aimed at advancing semiconductor production and high-performance chip development. Analysts suggest this collaboration could be a pivotal breakthrough for Intel's long-sought expansion into the foundry business.

Meta Unveils New AI Model, Shares Rise Over 6%

Meta Platforms(META.US) surged over 6% on Wednesday after unveiling its latest AI model, Muse Spark. Developed by Meta's new Superintelligence Lab, led by Chief AI Officer Alexandr Wang, this marks the first model since CEO Mark Zuckerberg's strategic AI department overhaul. Muse Spark will power Meta's AI chatbot, shifting from the company's previous open-source approach to a closed-source model, keeping its design and code private.

• Storage Sector Rally: Shares of storage companies soared to record highs. Sandisk Corporation(SNDK.US) jumped 9.86%, Western Digital Corporation(WDC.US) climbed 8.6%, and Seagate Technology Holdings PLC(STX.US) rose 5.88%. Meanwhile, Micron Technology, Inc.(MU.US) advanced 7.72%.  
• Optical Communications Surge: Optical communication stocks posted significant gains. Applied Optoelectronics, Inc.(AAOI.US) led the sector with a 12.8% increase, followed by Coherent Corp.(COHR.US), Ciena Corporation(CIEN.US), and Corning Inc(GLW.US), all up over 10%. Lumentum Holdings, Inc.(LITE.US) also surged nearly 10%, hitting a new high.  
• Crypto Mining Stocks Outperform: Cryptocurrency mining companies were among the top gainers. HUT 8(HUT.US) skyrocketed over 16%, Riot Platforms(RIOT.US) gained more than 13%, while Applied Digital(APLD.US) and Cipher Mining(CIFR.US) both rose over 10%.  
• Travel and Aviation Rebound: Following a two-week ceasefire agreement between the U.S. and Iran, oil prices plummeted, fueling a rally in travel and aviation stocks. United Airlines Holdings(UAL.US) surged nearly 8%, while Carnival Corporation(CCL.US) jumped over 11%.