Tadawul Review:

Tadawul All-Share index (TASI) ended Thursday's session ‎positively and jumped 127 points (+1.19%), to settle at the ‎level of 10,744. The market opened positively, with a ‎difference of 13 points from the previous close, and ‎maintained its positive trajectory throughout the day to close ‎atits intraday high. The index added another 24 points to its ‎gains in the closing auction. In general, 14 out of 20 sectors ‎were closed in the green. While 119 shares rose and 87 ‎shares fell. Banks (+2.4%), materials (+0.5%) and energy ‎‎(+0.9%) all contributed to the rise in the index's performance ‎by a total of 105 points. In terms of stocks, Al-Rajhi Bank had ‎the largest share in raising the performance of the index by ‎‎49 points (+2.9%), followed by the National Bank by 21 ‎points (+2.7%) and Aramco by 16 points (+0.9%). Trading ‎activity witnessed a decrease in the volume of shares by -13% ‎to reach 186 million shares, and an increase in value by +6% ‎to reach 5.1 billion riyals compared to the previous closing. ‎TASI is likely to continue its current trajectory with result ‎season and recovery in oil prices supporting the index ‎momentum.‎

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Market Wrap International:

The global equity markets moved higher on Friday with ‎earnings seasons and expectation of less hawkish central ‎banks driving the markets. In the U.S, the benchmark S&P 500 ‎Index pared its intraday losses to gain 0.4% at session end. The ‎markets faced clear headwinds as senior managers from big ‎banks in the U.S issued a rather cautious post-result future ‎guidance. However, inflation expectation data provided a lift ‎to major sectors, including financials. 8 out of 11 major ‎industrial groups ended the session in positive.

In Europe, the market celebrated a surprise positive GDP ‎data in the U.K, showing economic activity in Nov-22 managed ‎to record growth, defying expectations of economic ‎contraction. Further lift to stocks was provided by inflation ‎data in the U.S. The Stoxx Europe 600 Index closed with ‎‏0.5‏‎% ‎gains. FTSE jumped ‎‏0.6‏‎% to come close to its all-time high. ‎Other country level indices too recorded healthy return.

‎In Asia, markets responded to better results in tech, dollar ‎weakness and CPI data in the U.S. Barring indices in Japan ‎‎(TOPIX: -‎‏0.3‏‎%, on Yen appreciation), all other major Asian ‎markets closed higher by 0.5-1%. Benchmark Indices in Hong ‎Kong (Hang Seng: +1%), China (Shanghai Composite: +1%) and ‎Korea (KOSPI: +0.9%) were the major gainers in the region.  ‎

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