Here’s what you need to know before opening bell on Tadawul, January 17

RIYADH: Saudi Arabia’s stock market concluded six straight sessions in positive territory as optimistic market sentiment overshadowed growing omicron worries.

In the latest session, the main index TASI edged up to 12,110 points after reaching over 12,200 early in the morning, and the parallel Nomu market closed marginally higher at 26,288 points.

The Gulf was led by the Qatari index QSI which added 0.9 percent, followed by Bahrain’s BAX, up 0.6 percent.

Oman’s MSX30 went down by 0.6 percent, while Kuwait’s BKP index ended flat.

Elsewhere in the Middle East, the Egyptian index EGX30 dropped 1.5 percent.

In energy trading, Brent crude crossed $86 per barrel and US WTI crude oil reached $84.1 per barrel as of 8:43 a.m. Saudi time.

Stock news

• ACWA POWER Co. appointed Mohammad Abdullah Abunayyan as board chairman, and Mohammad Abdullah Abunayyan as vice chairman for a three-year term
• Fawaz Abdulaziz Alhokair Co. has submitted a filing to the Capital Market Authority for capital decrease, followed by capital increase through rights issue of SR1 billion ($266 million)
• Saudi Pharmaceutical Industries and Medical Appliances Corp., or Spimaco, has signed an agreement with Swiss-based Vifor Pharma to locally manufacture a medicine, namely Ferinject
• Al Rajhi Bank received the green light on completing an acquisition of Ejada Systems Company Ltd
• Arabian Shield Cooperative Insurance Co.'s merger with Alahli Takaful has been completed, as set out in the shareholder circular
• Allied Cooperative Insurance Group’s rights issue trading was around 89 percent covered, the rump offering will start on Jan. 18