Saudi Shares Start Week Lower Amid Fresh Escalation in Middle East Conflict

07:39 AM EST, 11/08/2026 (MT Newswires) -- Saudi Exchange-traded shares ended the first trading day of the week in the red as intensifying geopolitical tensions in the Middle East dampened investor sentiment on Sunday. At the close of the trading session, the Tadawul All Share Index closed 0.78% in the red. Over the weekend, explosions were reported in Iran, along with vessels being attacked on the Strait of Hormuz. Investors raised concerns about whether the US will reescalate attacks after the midterm elections are over. In other news, the administrative building of Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, was targeted by an attack. The incident did not result in any injuries or fatalities. However, minor infrastructure damage was reported. Aramco shares closed 0.31% lower. On the corporate front, earnings reports dominated the headlines as Marble Design Co. (SASE:9575) and Raoom Trading Co. (SASE:4144) swung to losses in the third quarter. Arabian Drilling Co. (SASE:2381) and L'azurde Co. for Jewelry (SASE:4011), on the other hand, turned to an attributable profit in the three months ended Sept. 30. "Net profit of SAR 1.8 million for the third quarter of 2026, compared to net loss of SAR 5.2 million in the second quarter of 2026, mainly due to an unrealized fair value loss of SAR 10.5 million was recorded in the second quarter on the excess gold quantity that the Group has started purchasing in the current year to build its own gold reserve, as explained above," L'azurde Co. for Jewelry said in its report. Marble Design shares closed flat. Raoom Trading, Arabian Drilling, and L'azurde closed 0.82%, 5.55%, and 2.13% in the green. Meanwhile, Ades Holding (SASE:2382) won multi-year deals to deploy its Key Singapore and Admarine 10 jackup rigs to India. Shares of the drilling services company closed flat.