Most Important News

1. RETAL Establishes SAR 600M Real Estate Fund;
2. ARABIAN DRILLING Secures SAR 1.374 Billion Contract Extensions with Aramco;
3. Powell: US Inflation Near Target Level;

1. Market Summary

On Tuesday, Saudi Arabia's benchmark index Tadawul All Shares Index(TASI.SA)  dropped 0.38%, weighed by a 2.33% fall in Saudi Arabian Mining Co.(1211.SA) . Among other losers, Savola Group(2050.SA)  slipped 2.16% after announcing its CEO had stepped down by mutual agreement as part of a strategic overhaul.

On previous trading day, the S&P 500 index(SPX.US)  inched down 0.11% and closed at 6,198.01, while the NASDAQ(IXIC.US)  lost 0.82% to settle at 20,202.89. The blue-chip Dow Jones Industrial Average(DJI.US)  was the outlier, gaining 400.17 points, or 0.91%, to end at 44,494.94.

2. Quick News

Residential Mortgages Fall 4% to SAR 7.4 Billion in May

Residential mortgages provided by banks to individuals decreased by 4% year-on-year to SAR 7.4 billion in May, according to data released by the Saudi Central Bank (SAMA).

Saudi Arabia's Consumer Spending Jumps 10% to SAR 134.1 Billion in May

In May 2025, consumer spending in Saudi Arabia increased by 10%, reaching SAR 134.1 billion, up from nearly SAR 122 billion during the same month in the previous year.

Powell: US Inflation Near Target Level

Federal Reserve Chairman Jerome Powell stated he is satisfied with the current stance of the US central bank's monetary policy, noting that inflation has fallen close to its target level. He explained that US inflation has dropped to near the 2% target level, adding, “If we ignore tariffs, with inflation behaving as expected and hoped … We expect higher readings over the summer.”

Trump Will Not Extend Tariff Negotiation Deadline, May Raise Tariffs on Japan

President Trump has stated that he is not considering extending the deadline for trade agreement negotiations with various countries, which is set for July 9th. He expressed skepticism about reaching an agreement with Japan. Trump indicated that he might impose tariffs on goods imported from Japan at rates of "30%, 35%, or whatever number we decide," which is significantly higher than the 24% rate he announced on April 2nd.

3. Stocks To Watch

KSA Stocks

Retal to Set Up Real Estate Fund to Build SAR600M Residential Tower in Makkah

Retal Urban Development co.(4322.SA)  will establish a closed real estate fund to develop a Residential tower within Masar destination in Makkah at the cost of 600 million Saudi riyals ($160 million). The developer has signed a memorandum of understanding with Watheeq Capital to establish the fund, Retal said in a statement to the Saudi stock exchange on Tuesday.

ARABIAN DRILLING Secures SAR 1.374 Billion Contract Extensions with Aramco for Four Rigs

On July 1, 2025, Arabian Drilling Co.(2381.SA)  announced that it has secured contract extensions for four of its rigs with Saudi Arabian Oil Co.(2222.SA) . The extensions have a combined backlog value of SAR 1,374 million and durations ranging from 1 to 10 years. The impact on revenues is expected to begin in Q3 2025.

Najran Cement Finalizes EPC Power Project Deal with SEC Subsidiary

Najran Cement Co.(3002.SA)  has entered into an agreement with the National Electricity Transmission Co. (NETC), a subsidiary of Saudi Electricity Co. (SEC), as part of the liquid fuel displacement program (LFDP). The deal involves the establishment of a power transmission station on an engineering, procurement, and construction (EPC) basis to supply electrical power to the company's plant in Najran, with a capacity of 67 MVA.

MAADEN Completes Acquisition of AWA's and Alcoa Saudi's Shares in Maaden Companies

Saudi Arabian Mining Co.(1211.SA)  has announced the completion of the procedures for the acquisition of the entire share capital owned by AWA Saudi in Maaden Bauxite and Alumina Company (MBAC) and Alcoa Saudi in Maaden Aluminium Company (MAC). The acquisition involves Maaden purchasing all of the shares owned by AWA Saudi in MBAC, totaling 128,010,000 ordinary shares, representing 25.1% of MBAC's total issued capital, and all shares held by Alcoa Saudi in MAC, totaling 165,001,125 ordinary shares, representing 25.1% of MAC's total issued capital.

USA Stocks

Tesla Shares Drop Over 5%, Trump Suggests Possibility of Expelling Musk

On Tuesday, Tesla Motors, Inc.(TSLA.US)  shares fell by more than 5%. When asked by reporters if he would expel Elon Musk, Trump responded, "We'll have to see what happens." Musk is upset over losing electric vehicle subsidies, but he may stand to lose much more.

Cathie Wood Doubles Down On Tesla Amid Elon Musk's Feud With Trump

On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. Ark Invest’s flagship fund, ARK Innovation ETF(ARKK.US) , acquired 43,126 shares of the Elon Musk-led company, while ARK Web x.0 ETF(ARKW.US)  added 13,242 shares to its portfolio. The total value of these purchases, based on the latest closing price, amounts to $16.95 million. 

Wolfspeed Surges Over 98% on Bankruptcy Restructuring and Debt Reduction Plan

Silicon carbide semiconductor manufacturer Wolfspeed(WOLF.US)  saw its stock surge by over 98%. As part of a restructuring agreement with creditors, Wolfspeed plans to obtain $2.75 billion in new financing through bankruptcy reorganization and reduce approximately 70% of its debt (about $4.6 billion) to alleviate financial pressure.

"One Big Beautiful Bill" Passes, Boosts Solar Sector; ARRY Soars Over 12%

Array Technologies(ARRY.US) , a solar tracker manufacturer, experienced an overnight surge of over 12%. The stock gain followed the passage of the latest version of the "One Big Beautiful Bill" which did not include taxes on wind and solar projects, leading to a broad increase in solar stocks.

4. Saudi Stock Calendar