RIYADH: Saudi stocks started the trading week lower, tracking fellow Middle Eastern bourses even as the Kingdom's listed companies witnessed a strong earnings season.
The main index TASI ended Sunday’s session marginally lower at 12,463 points, and the parallel market Nomu was down 0.5 percent to 25,111.
Saudi Parts Center Co. and Raoom Trading Co. will debut on Nomu today.
In line with the Saudi index, bourses Qatar, Oman, and Kuwait lost between 0.1 and 0.7 percent, while Bahrain’s BAX edged up by 0.2 percent.
Elsewhere in the Middle East, the Egyptian EGX30 index dropped 1.4 percent.
In energy trading, Brent crude reached $92.9 a barrel, and US benchmark WTI fell to $90.84 a barrel as of 9:00 a.m. Saudi time.
Stock news
- Saudi Automotive Services Co., or SASCO, signed an agreement for a Shariah-compliant loan worth SR504 million ($135 million) from Riyad Bank
- Etihad Etisalat Co., known as Mobily, saw a 37 percent increase in profit for 2021, reaching SR1.1 billion
- Saudi-listed Yanbu National Petrochemical Co., also known as Yansab, posted a 126 percent profit surge to SR1.5 billion during 2021
- Arabian Shield Cooperative Insurance Co. recorded a 7 percent increase in 2021 profit, hitting SR3.5 billion
- Thob Al-Aseel Co. reported a 28 percent decline in profit to SR60 million for 2021
- Arabian Pipes’ board approved a capital reduction of 75 percent, down to SR100 million
- United Wires Factories signed an initial agreement with UAE’s A-1 Fence for a potential acquisition of a stake in A-1 Fence Arabia
- Saudi Basic Chemical Industries said it has completed all construction works and provided the needed power supply for its Jubail project – a plant to produce chlorine and its derivatives
- Allied Cooperative Insurance Group said it will distribute SR15 million to compensate rights issue owners who did not exercise their subscription rights to new shares
Calendar
Feb. 21, 2022
- Saudi Parts Center Co. and Raoom Trading Co. will list on the parallel Nomu market
- Bank AlJazira will distribute SR0.35 per share for the second half of the fiscal year 2021
- United Wire Factories, also known as Aslak, will payout SR0.45 per share as dividends
- Allied Cooperative Insurance Group will distribute SR15 million to compensate rights issue owners who did not exercise their subscription rights
Feb. 22, 2022
- The Saudi stock exchange will be off on the occasion of the Saudi Founding Day
