Tadawul Equities Fall on Tuesday as Renewed US-Iran Tensions Weigh on Investor Sentiment

07:32 AM EST, 11/03/2026 (MT Newswires) -- The Tadawul All Share Index closed Tuesday 0.07% in the red as renewed tensions in the US-Iran war heightened concerns over potential disruptions to Middle East crude supplies. The US attacked Iran's Qeshm Island on Monday, according to media reports. The reported strike came after President Donald Trump played down the possibility of attacking Iran following the midterm elections. Oil prices, however, rose 1.65%, with Brent crude settling at $106.5 a barrel, amid renewed hopes of potential US-Iran talks. While both sides have signalled some openness to negotiations, the reported US strikes on Iran suggest escalation risks remain, ING said in a note. "What is clear, though, is that strong signals of progress in peace talks would mean more downside for prices. The market still has a large risk premium baked in, particularly given the strong oil flows from the Persian Gulf," ING added. On the macroeconomic front, operating conditions in Saudi Arabia's non-oil private sector improved for the seventh straight month in October as strong domestic demand led to a faster increase in output, while input cost inflation hit a four-month high, the Riyad Bank and S&P Global said Tuesday. The seasonally adjusted Riyad Bank Saudi Arabia PMI stood at 54 in October, down from 55.3 in September. The Saudi Capital Market Authority also proposed new regulatory provisions to improve initial public offering practices in the Kingdom. The proposals aim to strengthen underwriters' role and require issuers to disclose forward-looking statements and forecasts about their business covering the remainder of the latest financial period in the prospectus. In corporate news, Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, SAL Saudi Logistics Services Co. (SASE:4263), Dallah Healthcare Co. (SASE:4004), and Basic Chemical Industries (SASE:1210) were among the companies that posted higher profit and revenue for the third quarter of 2026. Saudi Aramco amd SAL Saudi Logistics' shares gained 0.23% and 3.92%, respectively. Dallah Healthcare shares plunged 5.37%, whereas Basic Chemical rose 2.62%. Gulf Union Alahlia Cooperative Insurance (SASE:8120) closed the day 0.85% in the green as the insurance company swung to a net profit in the three months ended Sept. 30. Investors will also be watching the US midterm election results, with voting taking place on Tuesday.