Tadawul Shares Rebound on Monday; Naqi Water Declines
The Tadawul All Share Index closed 0.13% in the green on Monday as investors patiently await the US Federal Reserve's latest meeting minutes under its new leadership on Wednesday. "On the subject of the Fed, this Wednesday will see the first set of FOMC minutes released under Chair Kevin Warsh's leadership. Like the new-look FOMC statement, these could be sharply slimmed down. However, the core message should be a hawkish one, where the Fed is committed to restoring price stability after missing its target five years in a row, and some (or many) members could see the Fed's next move as a rate hike," ING said in a note. Aside from the latest FOMC minutes, market watchers will also be on the lookout for China's May inflation print on the same day. In other news, Russia launched missile and drone attacks on the Ukrainian capital of Kyiv. The attacks, which resulted in 12 casualties, come ahead of a two-day NATO summit in Ankara, Turkey. Back at home and on the corporate front, Takween Advanced Industries (SASE:1201) is one step closer to concluding its purchase of a 70% stake in Advanced Fabrics Factory Co. after it secured a non-objection from the General Authority for.
The Tadawul All Share Index closed 0.13% in the green on Monday as investors patiently await the US Federal Reserve's latest meeting minutes under its new leadership on Wednesday. "On the subject of the Fed, this Wednesday will see the first set of FOMC minutes released under Chair Kevin Warsh's leadership.
Like the new-look FOMC statement, these could be sharply slimmed down.
However, the core message should be a hawkish one, where the Fed is committed to restoring price stability after missing its target five years in a row, and some (or many) members could see the Fed's next move as a rate hike," ING said in a note.
Aside from the latest FOMC minutes, market watchers will also be on the lookout for China's May inflation print on the same day.
In other news, Russia launched missile and drone attacks on the Ukrainian capital of Kyiv.
The attacks, which resulted in 12 casualties, come ahead of a two-day NATO summit in Ankara, Turkey.
Back at home and on the corporate front, Takween Advanced Industries (SASE:1201) is one step closer to concluding its purchase of a 70% stake in Advanced Fabrics Factory Co. after it secured a non-objection from the General Authority for.