Tadawul Shares Extend Winning Streak on Higher Oil Prices; 2P Gains

08:10 AM EST, 12/04/2025 (MT Newswires) -- Saudi stocks ended the first trading week of December higher, with the Tadawul All Share Index closing Thursday at 0.49% in the green to extend a rally, supported by higher oil prices and optimism regarding a US Fed rate cut next week. "The Fed has signaled that it will cut rates by 25bp to 3.5-3.75% at its Dec meeting. Chair Powell is facing the most divided committee in recent memory. We expect him to try to deliver a hawkish cut as a compromise. We're skeptical about whether he will be able to pull this off. But for now, markets are giving him the benefit of the doubt. They're pricing just 8bp of cuts in Jan and only around 25bp in the first three meetings of 2026 (after which his term ends)," BofA Global Research said in a note. In other news, Russia launched an attack on an energy facility in Odesa, Ukraine. The incident resulted in over 51,800 homes in the area losing power, Reuters reported. On the corporate front, Scientific and Medical Equipment House Co. (SASE:4014) secured a 24-month contract to replace and build King Fahd Hospital's infrastructure in Al-Baha. The equipment company gained 4.25%. Meanwhile, Perfect Presentation for Commercial Services Co. (SASE:7204), d/b/a 2P, acquired a property in Riyadh in a deal valued at 83 million riyals. The IT group will use the property for its expanded operations. 2P shares edged up 0.91% at closing. Looking ahead to next week, the local economic calendar will see the release of the kingdom's final GDP data, October industrial production figures and the interest rate decision from Saudi Central Bank based on the Fed move.