Overview:
Saudi Arabia's financial sector extended its record-breaking performance in the third quarter of 2026, with ten listed banks reporting combined profits of 24.75 billion riyals. Six banks expanded earnings while four contracted. The Tadawul Index closed 323.28 points higher at 9,761.78 points on combined trading volumes worth 5.1 billion riyals, with 259 companies posting gains and eight declining. Commodity markets remained volatile: gold advanced for a second consecutive session to above 4,073 dollars per ounce, while crude Brent rose 1.4 percent above 115 dollars per barrel on Middle East supply concerns.
Details:
The daily average profit for Saudi banks reached 269.06 million riyals in the third quarter, compared with 248.75 million riyals in the same period of 2025, representing a gain of 1.13 billion riyals. Al Rajhi Bank led sector profitability. The broader equity market reflected investor confidence, with airlines, fisheries, Red Sea company, Sera, and utilities stocks showing the strongest gains; Tadawul Group, Al Rajhi REIT, Tassaheel, Al Itihad, and Dراية REIT recorded the heaviest losses.
Gold prices rose 34.90 dollars to 4,073.30 dollars per ounce for December delivery on expectations surrounding Federal Reserve policy decisions. Silver gained 0.119 dollars to 54.460 dollars per ounce. Brent crude climbed 1.59 dollars to 115.47 dollars, while U.S. West Texas Intermediate futures increased 1.43 dollars to 101.33 dollars per barrel. Markets tracked escalating regional tensions and American crude inventory data.
Outlook:
Investors await this week's Federal Reserve monetary policy announcement for guidance on interest rate trajectory. Oil markets remain sensitive to supply security concerns in the Middle East.