RIYADH: Saudi Arabia’s main stock market broke through the 13,900 level for the first time in 16 years on Monday, but gave up gains later in the day on weaker investor sentiment.
TASI, as the main index is known, closed at 13,814 points, and the parallel market Nomu fell 0.3% to 23,475 points.
Elsewhere in the Gulf, stock exchanges in Abu Dhabi, Dubai, Qatar, Bahrain and Kuwait all fell, with Dubai’s DFGMI falling 2%.
Contrary to the regional trend, the Oman stock market added 0.5%.
Outside the Gulf, Egypt’s blue chip EGX30 index lost 1.8%.
In energy trading, Brent crude rose to $105.1 a barrel and the US benchmark West Texas Intermediate traded at $102.35 a barrel as of 9:22 a.m. KSA on Tuesday.
Stock market news
Petrochemical company SABIC Agri-Nutrients Co. saw quarterly profit nearly sixfold to SR2.5 billion ($670 million), boosted by increased sales
Saudi Arabia’s National Shipping Co., known as Bahri, has announced plans to issue Sukuk worth SR3.9 billion
Shareholders of PIF-owned digital security company Elm have approved SR3 per share as cash dividends for 2021
Amlak International for Real Estate Finance reported 8% increase in first quarter profit to SR 27 million
Zahrat Al Waha for Trading Co. shareholders approved cash dividend of SR 1.5 per share for 2021
UAE-based Aventus Global, a wholly-owned unit of Saudi marketing firm Tihama, has signed an agreement with Nextbite to transfer its assets and liabilities worth MAD 3.7 million
Abdullah Al Othaim Investment Co. has announced plans to make an initial public offering of a 30% stake on Saudi Arabia’s main stock market.
Saudi Exchange has announced the delisting of Saudi Electricity Co. Sukuk 5113, after the state-owned company fully bought out its sukuks
Saudi Industrial Investment Group reported a 23% decline in profits in the first quarter to SR235 million due to rising raw material costs
Mouwasat Medical Services Co. shareholders approved board recommendation to distribute annual cash dividends of SR2.75 per share
Wafrah for Industry and Development Co. went from losses to profits of SR 6.15 million in the first quarter of 2022
Seera Group Holding cut losses by 52% to SR63 million in the last quarter, thanks to a rebound in travel
Jarir Marketing Co. said it would pay out dividends of SR 2.05 per share after profit slipped 6% to SR 251 million last quarter.
Al-Baha Investment and Development Co. managed to reduce its accumulated losses to 27.5% of equity or SR 81.7 million
Schedule
May 11, 2022
Launch of the IPO of Arabian Food & Dairy Factories Co.
May 15, 2022
Saudi Aramco to Release First Quarter 2022 Financial Results
End of the IPO of Arabian Food & Dairy Factories Co.
May 22, 2022
Beginning of the IPO of Amwaj International Co.
May 25, 2022
End of Amwaj International Co.’s IPO.
More Stories
Bob Iger returns as Disney CEO, after reports of growing rift with Bob Chapek – Walt Disney (NYSE:DIS)
Agarwal Industrial Corporation Delivers Strong Second Quarter Performance, PAT Increases 178%
Mexico records growth in international tourism in September