08:29 AM EDT, 10/29/2026 (MT Newswires) -- The Tadawul All Share Index closed out the week 1.02% lower as earnings reports largely dominated headlines in Saudi Arabia on Thursday. Fourth Milling Co. (SASE:2286) and Saudi Ceramic Co. (SASE:2040) were some of the companies that reported their third-quarter earnings. Both companies logged a rise in attributable net profit and revenue for the period. Saudi Cable Co. (SASE:2110) and Riyadh Development Co. (SASE:4150), d/b/a Ardco, on the other hand, logged declines in their earnings for the three months ended Sept. 30. Fourth Milling, Saudi Cable, and Ardco closed 1.32%, 5.28%, and 0.20% lower. Saudi Ceramic shares were 0.79% in the red. On the macro side and as expected, the US Federal Reserve kept the interest rates steady at 3.75% to 4%. The group noted that 10 members voted to keep rates unchanged, with two voting to hike rates. "The decision saw two dissents, with Governor Cook and Cleveland Fed President Hammack voting in favour of a 25bp hike. The Committee upgraded its view on economic activity from 'solid' to 'strong' and noted still elevated inflation, but an on-hold decision was framed as allowing for 'the accumulation of more information'," Deutsche Bank Research said. "While Warsh continued to eschew forward guidance, his comments reinforced the September SEP signal that saw the vast majority of the FOMC expect another rate hike by year-end." In Saudi corporate news, Acwa Power (SASE:2082) agreed to form a joint venture with EIG Management under a new agreement. The venture will focus on US power infrastructure. Acwa shares closed 1.96% lower.

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