RIYADH: Saudi stocks fell on Sunday as weak earnings data weighed on investor sentiment and losses hit some of the Kingdom’s major stocks.
TASI dropped 1.2 percent, snapping its ten-day winning streak, to close at 12,140 points, and the parallel Nomu market slipped 1.4 percent, reaching 25,707 points.
In line with Saudi Arabia, most GCC bourses were down on Sunday, except for Bahrain’s BAX which edged up by 0.1 percent.
Stock exchanges of Qatar, Oman, and Kuwait all registered losses between 0.2 and 0.3 percent.
Elsewhere in the Middle East, the Egyptian index EGX30 closed 0.6 percent lower.
In energy trading, Brent crude oil reached $88.7 per barrel, and US benchmark WTI crude oil was up to $85.8 per barrel as of 8:49 a.m. Saudi time.
Stock news
- Saudi Real Estate Co., also known as Alakria, has completed the purchase of raw land in Riyadh worth SR727 million ($194 million)
- Arabian Centres Co. is to distribute cash dividends at SR0.75 per share for the first have of the fiscal year ending Sept. 30, 2021
- The National Co. for Glass Industries, known as Zoujaj, has signed an initial agreement with the Saudi Investment Recycling Co. to establish a JV specialized in producing raw material for glass manufacturing
- Etihad Atheeb Telecom Co. got its board’s approval to decrease capital by 61 percent to amortize accumulated losses
- Riyadh-based Saudi Public Transport Co., also known as SAPTCO, has signed a SR150 million deal for a public bus transport project in the Eastern Province
- Logistics and transportation services provider Bahri has started trial commissioning of the first floating station under its SR760 million deal with Saline Water Conversion Corp.
- The Saudi Arabian Mining Co., or Ma’aden, has appointed Robert Wilt as its new chief executive officer
- Al Moammar Information Systems Co. has inked SR84.5 million worth of contracts with its subsidiary Edarat Communications and Information Technology Co. for cloud hosting and data center services
- Al Dawaa Medical Services Co. has announced its intention to debut 25.5 million shares, representing 30 percent of capital, on the main stock index TASI
Calendar
Jan. 24, 2022
- Start of East Pipes Integrated Co.’s initial public offering subscription
Jan. 25, 2022
- End of East Pipes Integrated Co.’s initial public offering subscription
- Saudia Dairy and Foodstuff Co., SADAFCO, to pay cash dividends at SR3 per share for the first half of its fiscal year
Jan. 27, 2022
- End of Gas Arabian Services’ IPO book-building
- End of Scientific and Medical Equipment House’s IPO book-building
Jan. 28, 2022
- End of Elm Co.’s IPO book-building
