Saudi Stocks Slip as Q2 Earnings Begin Amid Growth Concerns

The Saudi stock market opened slightly lower as the second-quarter earnings season commenced, with investors closely monitoring results from banks, petrochemical firms, and major blue-chip companies ahead of July reporting. This earnings cycle is critical for gauging corporate performance in a market that has recently suffered its worst annual decline in a decade, leaving traders wary of weak growth momentum and a projected oil supply glut in 2026. Analysts from firms like City Group have advised underweighting Saudi stocks due to poor earnings growth, while the broader outlook for 2026 remains cautiously weak as investors wait for concrete financial data to reassess the market's direction.