The weekly review highlights the slight decrease in the Tadawul All Shares Index by 0.18%, amidst crude oil's potential second monthly gain due to OPEC supply cuts and geopolitical tensions. Goldman Sachs adjusted its Brent forecast to $87 per barrel for summer 2024, citing disruptions and stock draws. Corporate updates include Saudi Steel Pipe's significant profit increase and stock surge, Gas Arabian Services receiving intent letters for projects with Saudi Aramco, and other companies experiencing notable stock movements. Modern Mills Co. set its IPO price after an oversubscribed book-building, and Avalon Pharma's stock soared on its listing day. Saudi Aramco is boosting production and has made substantial procurement agreements to support the local economy. Looking ahead, the start of Ramadan and earnings reports from Tadawul Group and Sipchem are key events to watch.
Catalog
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Saudi Market Recap (2.25-2.28)
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