Tadawul Review:

Tadawul All Share Index (TASI) recorded a positive closing for ‎the fifth straight session on Monday and a gain of 121 points ‎‎(+1.1%) at 11,608 levels. The impact of the rise in Brent oil ‎prices had a significant barring on the rise of the TASI for ‎Monday's session. TASI started the session positively and ‎reached its intraday high of +160 points. However, selling ‎pressure forced the bulls to retreat a little as gains were ‎reduced to only 84 points at the end of regular trading hours. ‎Then the index rose an additional 22 points at the closing ‎auction. In general, all of the 20 sectors closed in the green ‎zone, while 165 stocks rose and 38 fell. The Banks (+1.3%), ‎Materials (+1.4%), and Health Care Equipment & Svc (+2.1%) ‎sectors contributed the most to the index's rise (+82 points). ‎Stock-wise, Riyad Bank (+4.3%), Saudi National Bank (+1.3%), ‎and Al Rajhi Bank (+0.6%) contributed most to the rise of the ‎index. The trading activity witnessed a remarkable ‎improvement in the volume and value of trading by 14% and ‎‎24%, respectively, to reach 185mn shares and SAR6.5bn. Given ‎strong oil prices and the upcoming result season, the backdrop ‎for the Index to recover further ground remains.‎

 

 

Market Wrap International:

The global equity indices shrugged off significant losses suffered ‎in last month to start a new month on a positive note. The ‎decline in bond yields, encouraging policy review in the U.K on ‎a generous package and recovery in oil prices were the key ‎drivers. In the U.S, the yields on 2-yr and 10-yr bonds dropped ‎by ‎‏0.6‏‎% for both and provided a much-needed relief ‎to investors. The benchmark indices staged recovery with S&P ‎‎500 and Nasdaq Composite rising by 2.6/2.3%. Energy (5.8%), ‎materials and Utilities led the recovery in S&P 500. Tesla’s ‎quarterly sales number missed expectations with stock coming ‎in for beating. ‎

In Europe, announcement of partial reversal in the generous ‎fiscal package by the new government in the U.K spurred ‎further recovery in Pound and improved sentiment. The ‎benchmark Stoxx Euro 600 Index sustained its recovery into ‎the second straight session (+0.8%) with energy and mining ‎names in the lead. Financial sector was a big drag due to fresh ‎concerns on the overall health of the banking sector, ‎particularly on Credit Suisse and Deutshe.‎

In Asia, indices continued the slide into the new month. ‎Markets in China and Korea were closed for trading on ‎Monday. Indices in Taiwan (TAIEX:-0.9%), India (SENSEX: -‎‎1.1%) and Hong Kong (HangSeng: -0.8%) closed negative . ‎Japan (Nikkei 225:1.1%) managed to outperform the region.‎