RIYADH: Saudi Arabia’s stocks wrapped up a volatile trading week with gains last Thursday, tracking instability in the oil market.
TASI rose 0.9 in the previous trading session, advancing 0.7 on the week. The parallel market, Nomu, ended 0.72 percent higher at 24,902.
Led by Dubai’s DFMGI, all major GCC stock indexes recorded gains on Thursday, except for Kuwait which closed the session almost flat.
As supply woes continued to rattle traders, Brent crude rose to end the day at $107.93 per barrel on Friday and US WTI settled at $104.7.
Saudi stock exchange announced that market hours during the holy month of Ramadan will be from 10:00 a.m. until 3:00 p.m.
Stock news
- Profits of Saudi oil giant Aramco hit SR412 billion ($110 billion) in 2021 on the back of high oil prices, up from SR183 billion a year earlier
- PIF-owned ACWA Power sold its 32-percent stake in a Shuqaiq Water and Electricity Co. at SR391.5 million
- Alkhorayef Water and Power Technologies Co. saw its profit drop 9 percent to SR103 million in 2021
- Profits of Saudi Chemical Co. fell by 5 percent to SR70 million during 2021
- Arabia Insurance Cooperative Co. recorded a 95 percent decline in net profit from SR12 million to SR530,000 in 2021
- Raoom Trading Co.’s profit dropped by almost 5 percent to SR24.9 million in 2021
- Saudi pharmacy chain operator Nahdi Medical Co. attracted SR6.76 billion from retail investors in its initial offering of shares to the public
- Saudi insurer CHUBB Arabia saw a 63-percent decline in its annual profit before Zakat to SR13.5 million
- Wafrah for Industry and Development Co. losses widened by 11 percent to SR10.9 million in 2021
- Saudi Ground Services Co. achieved a net profit of SR23.6 million from selling 4.5 million local shares during the first quarter of 2022
- The Saudi stock exchange has approved the listing of government debt valued at SR26.24 billion, submitted by the Ministry of Finance
- Jazan Energy and Development Co.’s profits increased by 23 percent in 2021 to SR13.3 million
- Alkhorayef Water and Power Technologies Co. was awarded a deal valued at SR141 million to perform the construction of phase two sewage networks in Taif City
- Umm Al-Qura Cement Co.’s board proposed a half-year dividend payout of SR0.25 per share even as profit dropped 33 percent to SR78 million in 2021
- Electrical Industries Co. reported a 104 percent surge in profit to SR48 million in 2021
- Wataniya insurance Co. turned into a net loss before Zakat of SR50 million in 2021, after making profits amounting to SR15 million a year ago
Calendar
March 21, 2022
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