Stock market shows muted reaction to top-level government and Aramco changes
- Index rose on opening, then fell marginally
- Petrochemicals industry shares continued to perform well
The Saudi Stock Exchange (Tadawul) showed little change after the announcement of top-level political appointments in the kingdom.
The index rose on opening, then fell marginally, by 0.3 per cent or 25 index points, by 1:30pm Saudi time.
King Salman bin Abdulaziz al-Saud appointed Prince Mohammed bin Nayef as crown prince, and made his son, Prince Mohammed bin Salman, deputy crown prince.
The monarch named Saudi Aramco CEO Khalid al-Falih health minister and chairman of Aramco, replacing Ali al-Naimi, who remains oil minister. A new CEO has not been announced for the state oil firm.
Petrochemicals industry shares continued to perform well, gaining 0.3 per cent. The stability suggests Saudi investors do not expect disruption.
The exchange is capitalised at about $530bn and is the Arab worlds largest exchange. It is scheduled to open to qualified foreign investors in June.
You might also like...
Iran-US talks see earnest engagement
27 February 2026
Kuwait receives bids for $400m Subiya utilities plant works
27 February 2026
A partner’s perspective on working with Sharakat
27 February 2026
Egypt’s Obelisk equity move merits attention
27 February 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
