Most Important News

1. Trump Eyes Seizing Iranian Kharg Island
2. ADES 2025 Net Profit Rises 2%, Approves Dividend
3. Wedbush Forecasts Tesla SpaceX 2027 Merger

At the close of 29/3/2026, the Tadawul All Shares Index(TASI.SA) decreased by 0.13%, closing at 11076.40 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.14%, closing at 22751.82 points.

U.S. equity futures were flat early Monday as investors kick off a holiday-shortened week of trading.

Futures tied to the Dow Jones Industrial Average(DJI.US) were little changed, dropping 34 points, or 0.07%. S&P 500 index(SPX.US) futures and NASDAQ-100(NDX.US) futures were flat.

The three major averages sank on Friday. The Dow Jones Industrial Average tumbled 793.47 points to 45,166.64. The S&P 500 dropped 1.67% to a seven-month low of 6,368.85, notching its fifth-straight weekly decline. The Nasdaq Composite declined 2.15% to 20,948.36.

Oil Futures Rise Over 3% Monday

Oil prices rose Monday with futures once climbing over 3% and Brent’s prompt spread reaching $7.58 per barrel. This follows Houthi drone and missile attacks on Israel, signaling a significant escalation in regional conflict. Growing military involvement threatens shipping lanes through the Red Sea, intensifying global energy supply risks.

Trump Eyes Seizing Iranian Kharg Island

US President Trump signaled intent to seize Iranian oil hubs while confirming 13,000 military targets have already been struck. Despite 50,000 troops mobilizing for a potential ground phase, indirect negotiations via Pakistan have allowed 20 tankers to transit the Hormuz Strait. Officials estimate intense combat will persist for two to four weeks as diplomatic breakthroughs remain distant.

KSA Stocks

ADES 2025 Net Profit Rises 2%, Approves Dividend

Ades Holding Co.(2382.SA) reported 2025 revenues of SAR 6.7 billion and a net profit of SAR 818 million, rising 7.9% and 1.9% respectively. This growth was driven by operational expansion and the Shelf Drilling acquisition, though higher interest expenses pressured margins. Consequently, the board approved a SAR 265 million dividend (SAR 0.24/share), payable to shareholders on April 27, 2026.

Aggressive Marketing Spend Hits Jahez Profits

Jahez International Company for Information System Technolog(6017.SA) reported a 61.1% drop in 2025 net profit to SAR 73 million, despite a 4.7% revenue increase to SAR 2,323.6 million. The decline was fueled by aggressive marketing spend to counter competition and a SAR 29.4 million spike in credit losses. While international revenue soared 118.3%, domestic pressure and fleet expansion costs continue to weigh on the group’s overall profitability.

Aramco Contract Boosts Saudi Steel 2027 Outlook

Saudi Steel Pipe Co.(1320.SA) signed a SAR 127 million contract with Saudi Arabian Oil Co.(2222.SA) for the supply of oil and gas steel pipes. The 12-month agreement involves providing specialized infrastructure for Aramco’s energy operations. Management expects the financial impact of this order to materialize during the first half of fiscal year 2027 as deliveries conclude.

Red Sea Plans SAR 100M Sukuk

Red Sea International Co.(4230.SA) announced a SAR 100 million Murabaha sukuk offering via Tarmeez Capital. The issuance aims to reinforce working capital and finalize restructuring costs for optimizing global operations. Investors can access the prospectus through Tarmeez's platform as the company rationalizes unprofitable business units.

USA Stocks

SpaceX Allots 30% IPO To Retail

SpaceX plans to allocate 30% of its initial public offering to retail investors, tripling the traditional market proportion. CEO Elon Musk aims to leverage his loyal supporters to stabilize the stock price following the debut. Bank of America Corp(BAC.US), Morgan Stanley(MS.US), UBS Group AG(UBS.US), and Citigroup Inc.(C.US) will manage specific roles covering domestic and international markets to bypass standard Wall Street underwriting practices.

Wedbush Forecasts Tesla SpaceX 2027 Merger

Tesla Motors, Inc.(TSLA.US) and SpaceX are speculated advancing toward a 2027 merger following the conversion of Tesla’s $2 billion xAI investment into SpaceX equity. Wedbush analyst Dan Ives identifies the joint “Terafab” facility in Austin as the initial step toward full operational integration. The consolidation is expected to accelerate following SpaceX’s anticipated $1.75 trillion IPO in June 2026.

SK Hynix Files ADR Targeting Valuation

SK HYNIX INC(HXSCF.US) filed for a $14 billion US ADR listing, prompting shareholder Artisan Partners to demand $Samsung Electronics follow suit. The exodus targets a persistent valuation discount where Korean chipmakers trade at roughly half the multiples of US peer $Micron Technology.

Entergy Surges 7% On Meta Agreement

Entergy Corporation(ETR.US) shares surged 6.82% after Meta Platforms(META.US) agreed to fund seven new natural gas plants providing 5.2 gigawatts of electricity in Louisiana. The deal ensures Meta covers the full infrastructure and service costs for its $27 billion Hyperion data center expansion. This strategic partnership is projected to deliver over $2 billion in savings for local ratepayers through 2046.