Tadawul Shares Close Monday Muted; Saudi's Industrial Production Climbs

Saudi shares closed Monday trading little changed at 0.02% in the green as investors assess the kingdom's last industrial production data for 2024.

The Tadawul All Share Index closed at 12,471.72 points, with 72 shares higher and 159 lower. The session was led by Al-Babtain Power and Telecommunications (SASE:2320) and East Pipes Integrated Co. for Industry (SASE:1321), which closed 4.44% and 3.75% in the green, respectively.

In international news, US President Donald Trump is expected to formally slap a 25% tariff on steel and aluminum imports later. The tariffs are expected to hit Canada, Mexico, and the United Arab Emirates the most.

Back at home, the kingdom's industrial production for December 2024 climbed 2.1% year over year. The General Authority of Statistics attributed the rise to the increase of non-oil activities in the country.

"On a monthly basis, the sub-index of manufacturing activity showed an increase of 5.1%, supported by the rise in the manufacture of coke and refined petroleum products, which increased by 13.1%, and the manufacture of chemicals and chemical products which increased by 0.6%," the statistics agency said in its report.

On the corporate front, Arabian Co. for Agricultural and Industrial Investment, d/b/a Entaj, unveiled the price range of its initial public offering of 9 million shares, or 30% of its capital. The poultry company set the price between 46 Saudi riyals and 50 riyals per share, with the final offer price to be disclosed at the end of the bookbuilding period on Thursday.