19 Hrs
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Aramco steadies TASI
The TASI index fell 0.07% on Tuesday, shedding 6.72 points to close at 9,876.13, amid selling pressure and investor caution over political and geopolitical developments. The energy sector helped limit the decline. Aramco’s quarterly results supported the market’s resilience: adjusted net income reached SAR 117 billion in the third quarter, up 9% year on year and above analysts’ expectations. Free cash flow stood at SAR 105.8 billion, and the company announced base dividends of SAR 82.1 billion. Analysts say the TASI’s staying above 9,800 supports its resilience, while a return to momentum will depend on Aramco and the energy sector’s performance, as well as developments in global markets. One analyst estimated that easing tensions could pave the way for a move toward 10,200 points.
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