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Saudi-Syria Cooperation Deal, Corporate Earnings Lift Tadawul All Share Index
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07:34 AM EST, 11/05/2026 (MT Newswires) -- The Tadawul All Share Index closed the last trading session of the week at 0.56% in the green as investors focused on the latest corporate earnings and economic data release in Saudi Arabia. According to a report by Alrajhi Capital and S&P Global, the seasonally adjusted alrajhi capital Saudi Construction Index ticked down to 52.3 in October from 54.4 in September. The month showed the slowest pace of total new orders since May. "New orders continued to increase and employment returned to growth, while greater use of local suppliers helped maintain broadly stable delivery times. Input cost inflation eased from September but remained elevated. Looking ahead, confidence remained positive across all three segments, with around 31% of firms expecting activity to rise over the next three months, compared with only 5% anticipating a decline," Alrajhi Capital Research Head Sultan Altowaim commented. In other news, Saudi Arabia and Syria entered into a cooperation agreement related to the two countries' defenses. The deal between the two countries' defense ministries was signed during Syrian President Ahmed al-Sharaa's visit to Riyadh. Meanwhile, earnings reports piled in as a wide number of Saudi companies published their financial results on Thursday. Saudi Steel Pipe Co. (SASE:1320), Riyadh Cement Co. (SASE:3092), and Southern Province Cement Co. (SASE:3050) reported higher attributable net profit and revenue for the third quarter. On the other hand, Arabia Insurance Cooperative Co. (SASE:8160), Aljazira Takaful Taawuni Co. (SASE:8012), and Saudi Ground Services Co.(SASE:4031) swung to attributable losses during the reporting quarter. Saudi Steel Pipe, Aljazira Takaful Taawuni, and Saudi Ground Services closed 0.50%, 4.10%, and 1.49% lower, respectively. Riyadh Cement, Southern Province Cement, and Arabia Insurance Cooperative shares were 0.54%, 2.38%, and 1.07% in the green.
Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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