-- Saudi Exchange-traded shares closed Monday 0.85% in the red as the potential breakdown of the already shaky ceasefire deal between the US and Iran dampened investor sentiment.
The US-Iran talks on a possible deal to end the conflict are in jeopardy as the US seized and fired on an Iranian-flagged cargo ship that was headed to the Bandar Abbas port.
An Iranian source told Reuters that the US' port blockade is a hindrance to the talks, with Iranian Foreign Ministry spokesman Esmaeil Baghaei adding that the Middle Eastern country is not rushing to conduct the discussions.
Back at home, the real estate price index of Saudi Arabia declined 1.6% year over year in the first quarter, according to a report by the General Authority for Statistics. The change was attributed to lower residential sector prices.
"The Real Estate Price Index recorded a 0.2% decline on a quarterly basis during Q1 of 2026. The Index was affected by the decline in the prices of the commercial sector by 2.3% driven by a decrease in the prices of commercial land by 2.4%, the prices of buildings by 1.3% and the prices of galleries and shops by 2.9%," the statistics agency said in its report.
Meanwhile, preliminary data showed that the kingdom's operating revenue and employee compensation indices in February rose 5.9% and 9.8% year over year, respectively. However, issued building permits dropped 18.8% to 5,920 in the reporting month from 7,290 a year ago.
On the corporate front, Cherry Trading Co. (SASE:4265) shares ticked up 3.11% as it secured a contract to lease 922 vehicles in Riyadh. The car rental and leasing company's board also recommended a 0.5 riyal per share dividend for 2025.