Closing Bell: Saudi main index closes in red at 11,543

02/05/2025 09:07 AST

Saudi Arabia's Tadawul All Share Index dipped on Thursday, losing 127.90 points, or 1.10 percent, to close at 11,543.67.

The total trading turnover of the benchmark index was SR5.09 billion ($1.35 billion), as 52 stocks advanced, while 193 retreated.

The MSCI Tadawul Index decreased by 16.97 points, or 1.14 percent, to close at 1,471.91.

The Kingdom's parallel market Nomu also dipped, losing 147.4 points, or 0.52 percent, to close at 28,129.77. This came as 32 stocks rose, while 41 fell.

The best-performing stock on the main index was Saudi Printing and Packaging Co., with its share price surging by 6.18 percent to SR13.06.

Saudi Cement Co. saw the steepest decline on the main index in Thursday's session, with its share price slipping 5.75 percent to SR43.40.

In a bourse filing, Banque Saudi Fransi announced that it has completed its $650 million offering of US dollar-denominated Additional Tier 1 capital notes.

The issuance, conducted under the bank's Additional Tier 1 Capital Note Programme, was offered to eligible investors in Saudi Arabia and internationally, with settlement set for May 7.

The notes were issued at a return of 6.375 percent per annum and are perpetual in nature, with a call option exercisable after six years. A total of 3,250 notes were issued, each with a par value of $200,000.

According to the bank, the instruments may be redeemed prior to the scheduled call date under certain conditions outlined in the base offering circular.

The notes will be listed on the International Securities Market of the London Stock Exchange and were offered in reliance on Regulation S under the US Securities Act of 1933, as amended.

The bank's share price traded 0.54 percent lower on the main market to reach SR18.30.

Halwani Bros. Co. also announced its interim financial results for the first three months of the year, with net profit amounting to SR11.51 million, a 4.58 percent decline compared to the previous quarter last year.

The company attributed the decrease to higher general and administrative expenses, as well as increased selling and distribution costs. It also said that this was due to an increase in other income as a result of the reversal of provisions that are no longer needed.

Halwani Bros. Co's share price traded 0.52 percent lower on the main market to reach SR47.95.

In the first quarter of 2025, Fourth Milling Co's net profit rose 25.154 percent quarter on quarter to SR52.6 million, according to a filing on the stock exchange.

The group attributed the increase to sales growing by 2 percent, amounting to an increase of SR3.4 million, and zakat and tax payments decreasing by SR1.4 million.

The company's share price traded 0.25 percent lower on the main market to reach SR3.97.

Saudi Steel Pipe Co. also announced its interim financial results for the first three months of the year, with net profit amounting to SR69 million, an 81.57 percent surge compared to the previous quarter.

The company attributed the increase to higher volume, improved efficiency and product mix of products sold, and administrative expenses decreased to SR14 million in the first quarter 2025 from SR19 million in the fourth 2024.

The company's share price traded 0.18 percent higher on the main market to reach SR56.10.