Tadawul Shares Start Week in Green Ahead of Key Economic Data

The Tadawul All Share Index started the week in the green at 0.26% in the green as investors await the release of the US Federal Reserve's interest rate decision for January on Thursday.

At the close of Sunday trading, the Saudi index closed at 12,386.16 points, with 161 shares in the green and 69 in the red. Kingdom Holding (SASE:4280) was the top gainer at 9.80%, while Al Jouf Cement (SASE:3091) was the stock that lost the most at 3.57%.

Looking into the economic calendar, the week will also see the release of the US Goods Trade Balance on Wednesday, the euro area unemployment rate for December 2024 and consumer confidence for January 2025 on Thursday, while the kingdom's preliminary fourth-quarter GDP growth rate and M3 money supply for December 2024 will be released on Thursday.

On the corporate front, Al-Baha Investment and Development (SASE:4130) shares closed 9.30% higher, the second most out of the constituents, as its net profit surged for 2024, while revenue increased year over year.

The reason for the increase in the industrial projects operator's revenues during the current year compared with the last year was due to the increase in the occupancy rate of the company's commercial complexes.

Meanwhile, First Avenue for Real Estate Development (SASE:9610) shares added 4.88% at closing as it secured a 30-day deal with Sarah Al-Lu'lu'a Real Estate. Under the 57 million-Saudi-riyal deal, the real estate company will carry out real estate brokerage services.