A mass finish in Saudi shares and 'Tassi' below 11 thousand points

All indicators of the Saudi stock sectors decreased at the end of the trading today, Sunday, so that the market continues its losses to the third consecutive session, in the light of the poor morale of investors to the threats of US President Donald Trump to impose higher Customs on the European Union, and on giant businesses such as “Apple” and “Samsung” and Oil prices below levels below $ 65 A Barrel. The “Tassi” index closed 1.7% to fall below 11,000 points, powered by the decline in the shares of all banks, along with most energy companies led by ‘Aramco’. The value of trade was 3.4 billion Riyals. Ahmed Al -Rashid, the first financial analyst of the ‘economic’ newspaper, said that ‘the poor liquidity in the market makes the impact of sales operations on the index significantly because of the lack of adequate depth in the aspect of requests.’ He added during an intervention with ‘Al -Sharq’ that the market was also influenced by the threat of Trump to the European Union, which in turn had a grief over the trade war and pessimism for the markets, after being stable and positive with the US Chinese ceasefire. ‘Trump announced last Friday in a post on the “Truth Social” platform that it could impose customs duties with 50% on imports of the European Union from next June, unless an agreement is reached. Fear over the edge of the bank profit, Marie Salem, the financial analyst of “Al -Sharq” that the most important pressure on the market comes from the main sectors, such as banks, energy and basic materials, due to the concerns that investors have over the upcoming period. Salem added: “There are concerns about the margins of the profitable banking sector in the future, especially in light of the ongoing high interest rates, while the energy sector is influenced by geopolitical tension and low oil prices.” But she indicated that the sub -indicators of these sectors spread with lower profitability than the general index, which indicates their chances of growth, but investors hold the appropriate opportunity to enter. The price of Brent ruol is below $ 65, despite the high oil prices increased at the end of Friday’s trade, Brent and Western Texas West Texas are still at low levels, which deprive the oil countries, including Saudi Arabia, of an increase in revenue. West -texas -Irmediate RU price rose by 0.5%, to turn above the $ 61 per barrel, amid a noticeable decrease in trading volumes before the “birthday” holiday in the United States scheduled on Monday. The price of Brent delivery increased by 0.5% to settle at $ 64.78. Financial analyst Youssef Youssef, during an intervention with “Al -Sharq”, indicated that “oil prices could not cohered at $ 65 for Brent Barrel, compared to an average of $ 75 during the first quarter, which is pressure on the market.” In Wall Street, all the most important stock exchange indicators were shaken at last week’s session, after President Donald Trump’s threats to impose strict customs duties on the European Union and Apple, landed the US equity indicators, and the dollar has dropped to the lowest level since December 2023.