RIYADH: Saudi Arabia’s stock exchange edged higher on Tuesday, tracking a rise in global markets even as oil prices eased back from their upward trend.
TASI, the main index, was up 0.39 percent to 12,881, while Nomu, the parallel market, lost 0.91 percent to 24,442.
Most GCC bourses advanced in line with the Kingdom, led by Bahrain’s BAX and the Kuwaiti index, adding 1.1 percent.
Stock exchanges in Abu Dhabi, Qatar, and Oman inched between 0.1 and 0.3 percent higher, while Dubai’s DFMGI shed 0.3 percent.
Elsewhere in the Middle East, Egypt’s index EGX30 extended gains by 1.3 percent after it lowered its real gross domestic product growth target for the upcoming financial year.
In energy trading, Brent crude oil reached $117.14 per barrel, while US benchmark WTI crude oil reached $110.72 per barrel at 7:54 a.m. Saudi time on Wednesday.
Stock news
- Saudi Airlines Catering Co. was back to profits of SR14 million ($3.7 million) in 2021 as flight operations resumed in the Kingdom following pandemic suspension
- United Cooperative Assurance Co. widened losses by 313 percent to SR65 million before Zakat during 2021
- Saudi Arabian Cooperative Insurance Co. turned into losses before Zakat of SR55.5 million in 2021, down from profits of a similar amount a year ago
- Tabuk Cement Co. saw its profits drop by 65 percent in 2021 on the back of lower sales
- Saudi Filing and Packing Materials Manufacturing Co.’s losses widened by 203 percent to SR9 million in 2021
Calendar
March 22, 2022
- Jarir Marketing co. will distribute dividends of SR1.95 per share for the fourth quarter of 2021
March 27, 2022
- Start of Saudi Home Loans IPO subscription
March 29, 2022
- End of Saudi Home Loans IPO subscription
