Tadawul Shares End Monday Lower; Catrion Catering Ticks Up

The Tadawul All Share Index ended trading lower at 0.16% in the red as the re-escalation of the US-Iran conflict over the weekend dampened investor sentiment on Monday. The US and Iran again launched missile and drone attacks against each other. The Middle Eastern country targeted Bahrain- and Kuwait-based US military facilities, while the US hit Iran's air defense systems, coastal radar sites, and other targets. The renewed attacks raised concerns regarding the future of shipping traffic in the Strait of Hormuz as Iran said that it was closed. US President Donald Trump, however, said that the Strait of Hormuz was accessible to commercial traffic. "It was another weekend of the US and Iran exchanging strikes. Clearly, the risk is that this escalates to levels seen early in the war, where neighbouring countries and their energy infrastructure are also targeted. Iran claims that the Strait of Hormuz is shut until further notice. The US pushed back, saying that it will ensure freedom of navigation. Escalation has slowed vessels transiting the strait to a trickle, renewing concerns over oil supply tightness through the third quarter," ING said in a note. Back at home, Hamad.