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JEDDAH: Saudi Arabia’s Tadawul All Share Index held firm on Wednesday, losing just 1.66 points, or 0.02 percent, to close at 10,779.96 

As investors traded around 168 million shares worth nearly SR3.5 billion ($933 million), 113 stocks advanced and 147 declined. 

The Kingdom’s parallel market Nomu lost 2.77 points, or 0.01 percent, to close at 21,376.05, with 30 companies gaining and 33 declining. The MSCI Tadawul 30 Index also fell 0.08 points, or 0.01 percent, to close at 1,450.01. 

Market movers 

The main market’s top performer was Raydan Food Co., whose share price increased 10 percent to end the session at SR16.28, while Nofoth Food Products Co. recorded a 9.87 percent increase to close at SR6.57.

Ataa Educational Co. also increased 4.75 percent to end the day at SR42.76. 

On the losing side, Armah Sports Co. decreased 4.92 percent to close at SR67.60, while Flynas Co. declined 4.46 percent to end the session at SR42.02.

Sumou Real Estate Co. also declined 4.13 percent to close at SR25.08. 

Corporate disclosures 

Saudi Vitrified Clay Pipes Co. said Laffan Pipes Co., or Laffan Saudi, has been converted from a one-person limited liability company into an unlisted Saudi joint stock company with issued capital of SR45.5 million, according to a Tadawul filing. 

Laffan Pipes Factory Co. of Qatar has completed its admission as a shareholder through a capital increase against an in-kind contribution, giving it a 45 percent stake in Laffan Saudi, while SVCP retains the remaining 55 percent. 

Laffan Saudi’s issued capital comprises 45.5 million ordinary shares, each with a nominal value of SR1, and has been fully paid through in-kind contributions.  

The development follows an MoU signed between the two companies in February 2024 and a partnership agreement signed about six months later. 

SVCP’s shares declined 3.12 percent to close at SR17.99. 

In another disclosure, Umm Al-Qura for Development and Construction Co. said it signed an agreement to sell a 2,500-sq.-meter plot within Masar Destination in Makkah to Rawajeh Real Estate Co. for SR168.91 million. 

The boulevard-facing plot, located in Zone 2 of Masar Destination, has a book value of SR76.01 million. 

Umm Al-Qura, whose shares rose 2.50 percent to SR17.20, said the sale is part of its development strategy for Masar Destination, with the plot to be developed as a residential tower.

The transaction is expected to have a positive impact on liquidity and financial results, with proceeds to be used to finance working capital and ongoing projects. 

In a separate Tadawul filing, CATRION Catering Holding Co. said it signed an agreement with Air Arabia DMM Co. to provide inflight catering services under a five-year contract valued at an estimated SR200 million.  

Under the agreement, CATRION will provide inflight catering services, sell onboard food, beverages and other supplies, and provide logistics services to Air Arabia.  

The agreement was signed on Sept. 15 and is expected to have a financial impact beginning in the fourth quarter of 2026. 

CATRION, whose share price fell 0.74 percent to SR67.25, said the agreement is part of its strategy to sustain business, strengthen long-term partnerships with airline-sector clients, support growth, diversify revenue streams and enhance operational efficiency. 

Teenager struggled in Barca’s La Liga start at Elche but improves against Athletic Bilbao, according to Hansi Flick.

Barcelona coach Hansi Flick has indicated that teenage star Lamine Yamal is finding his way back to his “top level” before Monday’s La Liga clash against Rayo Vallecano.

The 19-year-old struggled in Barca’s first match of the season at Elche but improved against Athletic Bilbao in the second, Flick said, although he did not find the net.

“I know everyone is worried about how is Lamine, how is he doing. And of course, look at his situation – he played a World Cup after a huge injury,” Flick told reporters on Sunday.

Flick said the Spanish World Cup winner is returning to his best, which Yamal has not hit since suffering a hamstring injury in April.

The winger returned at the World Cup but, despite Spain’s success, had limited individual impact at the tournament.

“Now he’s coming back after three weeks holiday, and also the first game maybe was not his best game.

“But I said this, I was very happy that he starts the game and he worked for the team.”

Yamal disappointed in the first half against Athletic on Thursday but stepped up a gear after the break.

“He played 90 minutes against Bilbao. And for him at the moment, it’s also good to [have] 90 minutes on the pitch,” Flick continued.

“We saw him in some situations really on this top level. And now, you couldn’t see this in the training today, but I saw it, and it was excellent.

“Everyone loves Lamine, and he’s in a good way. And we have to support him, and we do that.”

Yamal seemed in a bad mood after the game against Elche but happier in training before the Rayo clash.

“Of course, it’s always good when the players are smiling, but it’s not every day the same way,” Flick added.

“I’m also not smiling every day. It’s like that.”

Barca won both of their opening fixtures with Raphinha playing as a makeshift number nine after the champions were unable to land top target Julian Alvarez from Atletico Madrid.

“Of course, I’m happy with my team. [Sporting director] Deco is working on that to strengthen the team. We don’t have pressure,” Flick said, reiterating he is content with the players available to him if Barca don’t sign a new striker.