Saudi shares try to break the narrow trading scope amid the anticipation of decisive data

After trading yesterday, there were signs of the Saudi stock market’s exit from a cross range needed during 8 sessions, and the market today is looking forward to confirm the trend amid the calm of the markets around the world in anticipation of US data that will form a clearer image of the US interest rate path in the coming period. The most important market “Tassi” index rose 0.5% yesterday to close at 12173 points to go to the head resistance level at 12100 points, with the improvement of liquidity up to 6.1 billion Riyals. “The market has barely come out of the narrow cross range with the improvement of liquidity, over the average of 5.5 billion Riyals. The index movement has come up with a slight increase, but it is influential for the weighted banking sector, as well as the rise of ‘Aqua Power’ by about 1.2% amid reports on the intent of the French utility company “and SA”, which improves its presence in the renewable energy markets in the kingdom. Aqua Power will turn to the French company these days, as the French company can work with it as it is the only company for renewable energy in the kingdom. Reduced US data on Wednesday, the consumer price index market, which will give an extra indication of the ‘federal’ step to interest. “All eyes are on their way to the consumer price index report today, which can be the most important reading of inflation because it will feed the morale of the obsessed market at the FBI,” the SWBC said the weak to calm the concern of the federal reserve in the market. “Calm in the Asian markets commonly occurred, pending inflation data, which would further determine the interest and the direction of the dollar, which are important factors for shares. Bank is committed to the power of the US economy. will support, although Saudi shares have not dealt with such a good movement of crude prices since the beginning of the year. Oil prices rose today, Wednesday, after scoring its biggest drop in more than a month. Brent rough rose above $ 80 a barrel on Tuesday, with a loss of 1.4% Tuesday, amid news on a temporary ceasefire agreement between Israel and Hamas. But the risks surrounding oil prices are increasing with a Canadian official announcement yesterday that the customs duties that intend US President Donald Trump will include crude oil. News of Saudi businesses will be the part of the company ‘Saudi Arabian Mining’ (Maaden), the focus of investors’ interests for the second day in a row, after the attention was focused yesterday. Reuters said “Maaden” intends to open an office in Brazil and invest about $ 1.3 billion there. “There are trends with Saudi Arabia and Latin America to increase trade exchange and economic activity, and minerals are on their way to new markets, and this will be reflected in the future by the diversity of its products, which will increase revenue, and the wallet is more balanced, less risky and less affected by the fluctuations of mineral prices. The share of “Maaden” fell 0.85% yesterday to close 46.75 rows, and continued its losses for the second consecutive session as it announced the collapse of its negotiations to acquire aluminum activities of the Bahraini company “Alba”. Investors will also continue with the performance of “Riyad Bank”, which rose 1.8% yesterday after Bloomberg reported that in collaboration with “JP Morgan” he was working on a possible plan to launch the shares of its investment arm, “Al -Riyadh Financial Company” for public subscription, with a market value estimated. Although the insurance company “MIDGV” has not reached a binding agreement to integrate with the “Borouge Cooperative Insurance” business, it will be taken in its extraordinary general meeting that will be held today to prepare this integration. The company will discuss the amendment of some of its material, including the granting of the extraordinary general meeting to the company the right to issue excellent shares or other types and groups of shares, or decide to buy them or to turn these shares into other categories. ‘Midgul’ obtained a non -relatives from the public authority this month for competition over the economic concentration as a result of the proposed merger agreement.