Ramadan Kareem to all our subscribers observing the holy month. Here are the key market drivers for today.

Most Important News

1. OPEC+ Eyes April Oil Production Increase;
2. Saudi Reinsurance Co. Reports 70.5% Drop in 2025 Net Profit;
3. Aramco Halts LPG Exports from Juaymah Terminal Due to Damage;
4. NVIDIA Surpasses Expectations with 75% Revenue Surge in Q4;

Saudi Arabia's Tadawul All Shares Index(TASI.SA) fell 0.54% to 10,847.93, with a trading turnover of SR3.78 billion (US$1 billion). The Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.77%, closing at 22916.83 points. The Power and Water Utility Company for Jubail and Yanbu(2083.SA) led gains, rising 8.47% to SR31.24, while CHUBB Arabia Cooperative Insurance Co.(8240.SA) saw the largest decline, down 5.14% to SR17.53. Saudi Kayan Petrochemical Co.(2350.SA) reported a 3.06% sales drop to SR8.45 billion.

The three major U.S. stock indexes closed the day higher. At the close, the S&P 500 index(SPX.US) rose 0.81% to 6,946.13 points, the NASDAQ(IXIC.US) increased 1.26% to 23,152.08 points, and the Dow Jones Industrial Average(DJI.US) climbed 0.63% to 49,482.15 points.

The "Magnificent Seven" stocks also saw gains across the board. NVIDIA Corporation(NVDA.US) increased by 1.41%, Apple Inc.(AAPL.US) by 0.77%, Alphabet Inc. Class A(GOOGL.US) shares by 0.64%, Microsoft Corporation(MSFT.US) by 2.98%, Amazon.com, Inc.(AMZN.US) by 1%, Meta Platforms(META.US) by 2.25%, and Tesla Motors, Inc.(TSLA.US) by 1.96%.

OPEC+ Eyes April Oil Production Increase

OPEC+ may consider raising oil production by 137,000 bpd in April, ending a three-month pause, according to sources cited by Reuters. The decision will be discussed at the March 1 meeting, as the market anticipates summer demand and heightened US-Iran tensions. Increasing output could help members regain market share, especially as Russia and Iran face sanctions affecting their production.

U.S. Trade Representative Announces Potential Increase in Global Import Tariffs

The U.S. Trade Representative has indicated that tariffs on imports from certain countries may rise from the recently implemented 10% to 15% or higher. This follows a Supreme Court ruling that previous tariff measures lacked legal authorization, prompting a change in legal basis to continue the imposition of tariffs.

KSA Stocks

Tawuniya Reports 7.93% Rise in 2025 Net Profit

The Company for Cooperative Insurance(8010.SA) posted a 7.93% increase in net profit after Zakat for 2025, reaching SAR 1.1 billion, driven by a 19.31% rise in insurance services and a 12.24% boost in investment income. Total insurance revenues grew 17.13% to SAR 21.4 billion, while gross written premiums surged 20.28% to SAR 23.8 billion. Shareholders' equity rose 19.63% to SAR 5.36 billion, with earnings per share at SAR 7.37.

Saudi Reinsurance Co. Reports 70.5% Drop in 2025 Net Profit

Saudi Reinsurance Co.(8200.SA) announced a 70.5% decline in net profit after Zakat for 2025, totaling SAR 140 million. Despite a 48.01% increase in insurance revenues to SAR 1.67 billion, net investment profit fell by 71% due to exceptional gains recorded last year. Gross written premiums rose 24% to SAR 2.93 billion. Shareholders' equity increased 35.96% to SAR 2.19 billion, with earnings per share at SAR 0.84.

Aramco Halts LPG Exports from Juaymah Terminal Due to Damage

Saudi Arabian Oil Co.(2222.SA) has suspended LPG exports from its Juaymah terminal following structural damage to the propane and butane delivery system. The incident occurred on February 23, with no leaks or injuries reported. Exports scheduled for the coming weeks have been canceled as the company assesses the situation. The terminal is crucial for LPG exports, especially to markets in Japan, Korea, China, and India. The disruption has already impacted propane futures, which rose nearly 5% to over $590 per metric ton. Exports from the West Coast remain unaffected.

Alujain Corp. Signs MoU with Beaulieu International Group

Alujain Corp.(2170.SA) has signed a Memorandum of Understanding with Beaulieu International Group to localize production of synthetic fibers and non-wovens, aligning with Vision 2030 goals. The partnership aims to enhance local content and global competitiveness, leveraging Alujain's manufacturing platform and Beaulieu's expertise. The agreement, lasting two years, supports expansion into engineering plastics and fibers. Financial impacts are yet to be determined, with updates forthcoming.

Saudi German Health Plans Share Buyback

Middle East Healthcare Co.(4009.SA), known as Saudi German Health, announced its board's recommendation to repurchase up to 4,602,000 shares, representing 5% of total issued shares, to hold as treasury shares. The board believes the market undervalues the shares. The buyback will be financed from the company's resources or bank facilities. Approval will be sought from the Extraordinary General Assembly to ensure compliance with financial regulations. Purchased shares will not have voting rights.

USA Stocks

NVIDIA Surpasses Expectations with 75% Revenue Surge in Q4

NVIDIA Corporation(NVDA.US) reported Q4 earnings of $1.62 per share, beating the expected $1.53. Revenue soared 75% year-on-year to $68.13 billion, exceeding the forecasted $66.2 billion. The data center segment also grew 75% to $62.3 billion. However, concerns arose over reliance on a major hyperscale client. Shares briefly rose nearly 4% post-market before retreating.

Circle Shares Surge 35% After Strong Earnings Report

Circle(CRCL.US) soared 35.47% at close following its Q4 earnings report. The company posted revenue of $770 million, a 77% increase year-on-year, surpassing the expected $747 million. Net profit rose to $133 million, up $129 million from the previous year.

• Snowflake(SNOW.US) reported quarterly revenue and profit above expectations and announced multi-year integration agreements with OpenAI and Anthropic. Despite strong AI demand, market concerns lingered. Shares initially rose over 6% post-market but later fell nearly 2%.
• Trade Desk, Inc. Class A(TTD.US) reported quarterly results that exceeded expectations. However, its cautious revenue guidance for the next quarter led to a post-market drop of over 16%.
• C3.ai Inc(AI.US) reported lower-than-expected revenue and revised its guidance downward. The company completed a restructuring to reduce costs and improve efficiency, leading to a post-market drop of over 22%.
• IonQ, Inc.(IONQ.US) reported quantum computing revenue that significantly exceeded expectations and raised its full-year guidance. The share of revenue from commercial customers increased, driving a post-market gain of over 7%.