Most Important News

1. Saudi Arabia’s Credit Ratings Affirmed, Driven by Strong Financial Position;
2. Iran Proposes Three-Phase Negotiation Plan Amid US Tensions;
3. Tadawul Group Profit Falls 54% to SAR 55.6M in Q1 2026;
4. Solutions Profit Rises 2.5% to SAR 370M in Q1 2026;

At the close of 26/04/2026, the Tadawul All Shares Index(TASI.SA) rose by 0.11%, closing at 11121.56 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.25%, closing at 22795.17 points. 

The S&P 500 index(SPX.US) and NASDAQ(IXIC.US) closed at record levels last Friday. By the end of the trading session, the Dow Jones Industrial Average(DJI.US) fell by 0.16%, while the Nasdaq Composite rose by 1.63%, and the S&P 500 increased by 0.80%.

Saudi Arabia’s Credit Ratings Affirmed, Driven by Strong Financial Position

Global rating agencies reaffirmed Saudi Arabia’s creditworthiness in 2025, citing a stable outlook and robust financial indicators. Moody’s rated the Kingdom at Aa3, while Fitch and S&P assigned A+ ratings. Key drivers include SAR 1.7 trillion in financial reserves, a 170% surge in non-oil revenues since 2016, and public debt below 50% of GDP. Structural reforms further bolstered economic diversification and fiscal sustainability.

Iran Proposes Three-Phase Negotiation Plan Amid US Tensions

Iran has suggested a three-phase negotiation framework to the US via intermediaries. The first phase aims to end the war and prevent future conflicts involving Iran and Lebanon. If successful, the second phase will address the management of the Strait of Hormuz. Nuclear discussions are reserved for the third phase. Meanwhile, Trump indicated Iran could call the US if interested in talks, expressing confidence in a swift US victory.

KSA Stocks

Tadawul Group Profit Falls 54% to SAR 55.6M in Q1 2026

Saudi Tadawul Group Holding Co.(1111.SA) announced a 10.2% drop in Q1 2026 revenues to SAR 294.6 million due to decreased trading services. Net profit fell 53.9% to SAR 55.6 million, impacted by higher operating costs. Earnings per share decreased to SAR 0.46 from SAR 1.00. The group's strategic plans increased expenses, affecting profitability. Comprehensive income was SAR 50.9 million, down 57.3%.

Saudi Automotive Services Receives Compensation for Jeddah Station Expropriation

Saudi Automotive Services Co.(4050.SA) announced it received SAR13,024,465 in compensation for the expropriation of a Naft Company station in Jeddah, benefiting the Historic Jeddah Project. This transaction will negatively impact SASCO's Q2 2026 financials by SAR8.2 million due to the station's goodwill share from the acquisition.

Solutions Profit Rises 2.5% to SAR 370M in Q1 2026

Arabian Internet and Communications Services Co.(7202.SA) posted Q1 2026 revenue of SAR 3 billion, up 6.3% YoY but down 23.2% QoQ. Net profit rose 2.5% YoY to SAR 370 million, driven by reduced operating expenses despite higher costs and lower other income. QoQ, net profit surged 32.6%, supported by foreign exchange gains and lower expenses. EBITDA grew 9.8% YoY to SAR 492 million. EPS reached SAR 3.11 for the quarter.

Saudi Industrial Export Reports Annual Financial Results for 2025

Saudi Industrial Export Co.(4140.SA) announced its 2025 financial results, highlighting a 100% drop in revenue due to halting core operations in late 2024. Net losses increased by 27% to SAR 24.93 million, impacted by unrealized investment losses and impaired Murabaha sukuk. Accumulated losses reached 48.8% of capital. Despite financial challenges, management remains focused on liquidity improvements and restructuring. The auditor's report emphasized uncertainty about the company's future viability.

Saudi Fisheries Extends Lease Transfer for Al-Haridah Stake Sale

Saudi Fisheries Co.(6050.SA) announced an extension of the lease transfer and licensing agreement for its 51% stake in Al-Haridah Aquaculture Company. This decision, effective April 26, 2026, follows previous announcements on Tadawul. The extension is for an additional two months, as both parties continue negotiations. No changes in associated costs have been reported.

Walaa Insurance Gains Approval for Marine Liability Product

Walaa Cooperative Insurance Co.(8060.SA) received final approval from the Insurance Authority to market its Marine Liability Insurance for Marine Units, identified as P-WALA-1-B-26-108. This product covers third-party liabilities, including bodily injury, property damage, and legal expenses related to marine operations. The approval, granted on April 26, 2026, enables Walaa to expand its insurance offerings in the marine sector.

Arabian Cement profit surges 154% to SAR 59.9M in Q1 2026

Arabian Cement Co.(3010.SA) reported a significant rise in net profit to SAR 59.9 million for Q1 2026, marking a 154% increase from the previous year. Higher export sales and increased selling prices drove the growth. Revenue saw a 5% year-on-year increase to SAR 250.2 million, despite a 16% decline from the previous quarter. The company attributed its profitability boost to decreased depreciation expenses and lower administrative costs. Total comprehensive income rose 206% compared to Q1 2025.

National Gypsum Co. Eliminates Accumulated Losses

National Gypsum Co.(2090.SA) announced that its accumulated losses have been reduced to 0% of its share capital following the approval of its Extraordinary General Assembly on February 25, 2026. The company utilized SAR 64.2 million from its statutory reserve to offset losses, aligning with its strategy to strengthen financial stability and support future objectives.

RED SEA Reports Related Party Transactions Exceeding 1% of Revenues

Red Sea International Co.(4230.SA) disclosed that transactions with Al-Dabbagh Group Holding, a major shareholder, have surpassed 1% of its total revenues per the latest audited financials. The company secured an interest-free loan from the group to cover financing costs. The Audit Committee confirmed the deal complies with Article 71 of the Companies Law, with terms deemed fair and not harmful to shareholders' interests. 

USA Stocks

Michael Burry Warns of Semiconductor Overvaluation

Michael Burry, known as “The Big Short,” announced he is shorting the semiconductor sector, citing a lack of fundamental support for the rally. In a Substack post last Friday, he suggested selling semiconductor holdings, attributing the surge in the Philadelphia Semiconductor Index to technical factors rather than sustainable fundamentals. The index has risen for 18 consecutive sessions, marking its longest streak and highest overbought level in history.

NVIDIA Corporation Hits Record High, Market Cap Tops US$5 Trillion

NVIDIA Corporation(NVDA.US) surged over 4% on Friday, closing at a record high and surpassing a US$5 trillion market cap. The stock has gained 12% year-to-date. Analysts suggest upcoming earnings from Microsoft, Amazon, Alphabet, and Meta will be crucial, as their AI-related capital expenditures could significantly impact NVIDIA and the semiconductor sector's mid-term performance.