Most Important News

• US to Launch Hormuz Strait Ship Evacuation;
• Saudi Tourism Growth Outpaces Global and Regional Rates: WTTC;
• Rasan Profit Soars 194% to SAR 88.3M in Q1 2026;
• Al Majdiah Posts SAR 38.7M Profit in Q1 2026;

 

At the close of 03/05/2026, the Tadawul All Shares Index(TASI.SA) rose by 0.05%, closing at 11192.84 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.25%, closing at 22938.4 points. Sahm has compiled the Top 10 Daily Stock Price Gainers in the KSA market.

On May 1, the major U.S. stock indices showed mixed results. The S&P 500 index(SPX.US) rose 0.29% to a record close of 7,230.12 points, and the NASDAQ(IXIC.US) increased 0.89% to 25,114.44 points, both setting new closing records. However, the Dow Jones Industrial Average(DJI.US) fell 0.31% to 49,499.27 points.

Saudi Tourism Growth Outpaces Global and Regional Rates: WTTC

Saudi Arabia’s tourism sector achieved remarkable growth in 2025, with a $178 billion contribution to the economy, accounting for 46% of the Middle East's tourism market, according to the WTTC. The sector’s GDP contribution rose 7.4%, nearly double the global average of 4.1% and surpassing the regional growth rate of 5.3%, solidifying Saudi Arabia as the region’s fastest-growing tourism market.

US to Launch Hormuz Strait Ship Evacuation

President Trump announced on May 3 that the US will begin guiding stranded ships out of the Strait of Hormuz on May 4. He expressed optimism about ongoing talks with Iran. Iranian state media reported that Iran is reviewing the US response to its 14-point proposal via Pakistan. While Iran offered to discuss nuclear issues for sanctions relief, Trump deemed the proposal unacceptable.

WTI crude oil opened 2.7% lower on Monday, trading at $100.91 per barrel at the time of reporting.

OPEC+ Agrees to Increase Production by 188,000 Barrels per Day in June

On May 3, Reuters reported that seven OPEC+ members agreed to raise June production targets by 188,000 barrels per day, excluding the UAE, which recently exited OPEC+. Oil executives and traders believe the decision may remain symbolic until the Strait of Hormuz reopens, with normalization of oil flows possibly taking weeks or months even after the strait is accessible.

KSA Stocks

Rasan Profit Soars 194% to SAR 88.3M in Q1 2026

Rasan Information Technology Co.(8313.SA)'s Q1 2026 revenue surged 117% to SAR 261 million, driven by new products and growth in motor leasing and health segments. Net profit soared to SAR 88.3 million, up 194% from Q1 2025, due to improved operational efficiency and expanded offerings. Shareholders' equity rose 82% to SAR 821.8 million. Despite slight quarter-on-quarter profit decline, the company maintained strong momentum, supported by product innovation and digital adoption.

Aldawaa 2025 Profit Declines to SAR 321.8M

Aldawaa Medical Services Co.(4163.SA) reported a 4.4% revenue growth in 2025, reaching SAR 6.74 billion, driven by retail segment growth and robust expansion in distribution and logistics. Net profit declined 8.4% to SAR 321.8 million due to higher strategic expenses and non-recurring losses. Shareholders' equity rose 9.1% to SAR 1.45 billion. The company emphasized its strong operational efficiency and expects future revenue and profit margin improvements from recent investments.

Al Majdiah Posts SAR 38.7M Profit in Q1 2026

Dar Al Majed Real Estate Co.(4326.SA) reported a 22.4% drop in revenue to SAR 208.2 million for Q1 2026, citing real estate market challenges and the absence of land sales. Net profit decreased 62.1% to SAR 38.7 million, impacted by the lack of non-recurring gains from the previous year. However, net profit rose from the previous quarter due to increased real estate development profits and reduced administrative expenses. Shareholders' equity grew 13.1%.

Walaa Cooperative Insurance Co. Reports Positive Turnaround in Q1 2026 Financial Results

Walaa Cooperative Insurance Co.(8060.SA) announced a net profit of SAR 16.18 million for Q1 2026, reversing a loss from the previous year. Despite a 19.67% drop in insurance revenues to SAR 633.18 million, improved performance in Medical and Motor segments contributed to profitability. Investment income surged to SAR 31.22 million, driven by gains on equity investments. Total shareholders' equity decreased by 4.16% to SAR 1.695 billion. Earnings per share rose to SAR 0.13, compared to a loss of SAR 0.53 last year.

Saudi Pharmaceutical Industries and Medical Appliances Board Recommends Share Buyback for Employee Incentive

Saudi Pharmaceutical Industries and Medical Appliances Corp.(2070.SA) announced its board's recommendation to the Extraordinary General Assembly to repurchase up to 889,604 shares, representing 0.74% of total shares. The buyback aims to retain shares as treasury stock for an employee incentive scheme. The purchase will be funded through internal resources, pending assembly approval and compliance with solvency conditions.

Al-Rajhi Company for Cooperative Insurance's Earnings Rise 25% in Q1 2026

Al-Rajhi Company for Cooperative Insurance(8230.SA) announced Q1 2026 net profit after zakat of SAR113.5 million, up 25% YoY, driven by increased insurance revenues and investment income. Insurance revenues rose 24.8% to SAR1.5 billion, reflecting higher business volumes. Despite a 32% drop from the previous quarter, investment results improved significantly. Total equity grew 22.8% YoY to SAR2.67 billion, while EPS increased to SAR1.14 from SAR0.91 last year.

Saudi German Health Q1 2026 Profit Down 84% to SAR 25.7M

Middle East Healthcare Co.(4009.SA) announced an 84% YoY decline in Q1 2026 net profit to SAR 25.7 million, impacted by the absence of a prior year SAR 114 million land sale gain and increased NPHIES fees. Revenue rose 4% YoY to SAR 765.23 million, driven by higher patient visits. However, seasonal factors like Ramadan and Eid led to a 5% QoQ revenue drop and increased operating costs from new subspecialty services.

SAIB Completes SAR 1.85 Billion Tier 1 Sukuk Issuance

Saudi Investment Bank(1030.SA) finalized a SAR-denominated Tier 1 sukuk issuance worth SAR 1.85 billion. This perpetual sukuk offers a 6.50% annual return, paid semi-annually, with potential for rate adjustment on reset dates. Although perpetual, early redemption is possible under specified conditions. The issuance, part of SAIB's AT1 program, was conducted via private placement to qualified Saudi investors.

Maaden's Earnings Rise 6% to SAR 1.64B in Q1 2026

Saudi Arabian Mining Co.(1211.SA) posted a Q1 2026 net profit of SAR 1.64 billion, up 6% YoY, driven by higher commodity prices and SAR 375 million in one-off insurance proceeds. Revenue grew 3% to SAR 8.79 billion, despite lower phosphate and aluminum sales volumes. QoQ, net profit fell 2% due to reduced sales volumes and a SAR 768 million prior quarter gain. Cost discipline partially offset these impacts.

BinDawood Holding Acquires 51% Stake in Vaza Food

BinDawood Holding Co.(4161.SA) has received approval from the General Authority for Competition (GAC) to acquire a 51% stake in Vaza Food Co. for SAR 217.9 million. The acquisition involves a share purchase agreement with several investors, including Faisal Alomaigan and Abdulwahab Aldakhil. Vaza Food specializes in confectionery, bakery, and food segments, with its flagship brand "Pocodor" focusing on premium chocolate and confectionery products. This strategic investment aims to enhance BinDawood Holding's presence in the food manufacturing and retail sector.

Alujain Turns to SAR 12.2M Profit in Q1 2026

Alujain Corp.(2170.SA) reported a Q1 2026 net profit of SAR12.17 million, reversing a loss from last year. Revenue rose 37% to SAR365.49 million due to higher polypropylene sales. Improved product prices in March also boosted results. Equity fell 29% YoY due to a previous impairment loss. The company invested over SAR1.1 billion in new projects, with continued price improvements expected in the short term.

Al Rajhi Takaful to Double Capital via Bonus Issue

Al-Rajhi Company for Cooperative Insurance(8230.SA) received approval from the Capital Market Authority (CMA) to double its capital from SAR 1 billion to SAR 2 billion through a bonus issue. Shareholders will receive one bonus share for each share held. The increase will be funded by transferring SAR 1 billion from retained earnings, boosting shares from 100 million to 200 million. An extraordinary general meeting will be held within six months to finalise the process. This move aims to strengthen the company's capital base and support strategic expansion plans.

AMAK Anticipates Stronger Q2 2026 Amid Rising Mineral Demand

Almasane Alkobra Mining Co(1322.SA) (AMAK) CEO Geoffrey Day expects continued robust mineral demand to boost Q2 2026 performance. He attributed the rise in net profit to higher prices for gold, copper, zinc, and silver, along with reduced costs from a temporary plant shutdown. Gold led revenue at 55%, followed by copper at 24%. IPO proceeds will fund exploration and growth initiatives. AMAK's Q1 2026 net profit rose 9% to SAR 60.1 million.

USA Stocks

GameStop Proposes $56 Billion Acquisition of eBay

On May 4, The Wall Street Journal reported that GameStop Corp. Class A(GME.US) CEO Ryan Cohen has made a proposal to acquire eBay Inc.(EBAY.US) for approximately $56 billion, or $125 per share. Cohen expressed confidence in transforming eBay into a stronger competitor to Amazon through this acquisition.

Coinbase Reports Breakthrough on Stablecoin Yield Terms

Coinbase(COIN.US) announced on May 2 that an agreement was reached over stablecoin yield terms, allowing crypto exchanges to reward users holding stablecoins. However, banks secured stricter controls on the mechanism. This compromise resolves a key impasse, paving the way for the stalled Clarity Act to advance in the US Senate Banking Committee, according to Bloomberg.