Optimism about the results of companies is pushing Saudi shares to climb amid geopolitical calm

The Saudi Stock Exchange continued to rise for the second consecutive session, supported by the optimism of investors on the results of third -quarter companies and the intensity of regional tensions, which strengthened the appetite for market risk. At the beginning of the Monday trading, the general index “Tassi” increased by 0.33% to 11566 points, with Aramco and “Al -Rajhi Bank” shares, the two largest shares on the index, and the “Saudi Telecom” (STC), while “clubs for sports” Fell gains for profits after a Leap with more than 5% in the last session. Optimism over the quarterly results, Majid Al -khaldi, the first financial analyst in the newspaper “Al -iqtisadiah”, sees that the market direction will be determined during the remaining period of the year based on the results of the businesses, which will help investors to reinstate the shares as well as to calm the geopolitan conditions. “Everyone is optimistic about the results of the third quarter, especially in the basic materials sector, specifically petrochemical enterprises, minerals, as well as Aramco, in addition to the banking sector, which showed statements in July and August and achieved good results,” he said during an intervention with the “East”. Al -Marai Company opened the revelation season yesterday, as it scored 7.5% in the third quarter gains, which came slightly without analysts’ expectations. The share of the company rose 0.4% to 50.7 Riyals during early trading. Seed al -thaqfan, a member of the ‘Saudi Economics Association’, has an expected ‘surprise’ in the petrochemical sector, and expects the gains of the petrochemical sector ‘surprise’ to be the season because the results in the corresponding quarter of last year were very low, which increases the impact of any improvement in the results. During an interview with “Al -Sharq”, Al -thaqfan pointed out that “the banking sector’s profits will remain good in light of the strong demand for loans”, but warned to delay the growth of deposits that the liquidity yields. Geopolitical calm reinforces the moral of foreigners in terms of geopolitical conditions, Hamas announced a conditional approval of a US plan to end the war in the Gaza Strip. Mary Salem, the financial analyst of “Al Sharq News”, believes that the setback of geopolitical risks would be an important factor in attracting more foreign capital to the market. The part of the “Musaa” business jumped a leap for “facilities” in the public utilities sector in the early trading of more than 3.5%, with 40.74 rows, after the company announced the water tariff for the industrial sector in the industrial cities, subject to the Royal Commission for Jubil. Al -khalidi expected the news at the current stage to have a positive impact on the share, although the financial impact will only be clear at the beginning of the next year, especially as the company did not disclose the size of the increase.