RIYADH: The Saudi main stock index gained for a second straight day on Tuesday, propelled by positive market cues in response to a new batch of sanctions on Russia.
Even as TASI closed 0.32 percent higher at 13,206 points, the parallel market, Nomu, lost almost 1 percent to 24,214.
In line with the Saudi index, stock exchanges in Abu Dhabi, Qatar, Bahrain, Oman, and Kuwait all advanced between 0.2 and 0.9 percent.
Elsewhere, Dubai’s DFMGI and the Egyptian index EGX30 shed 0.5 and 1.3 percent, respectively.
Oil prices slightly retreated on Wednesday. Brent crude oil reached $107.09 a barrel while US benchmark WTI traded at $102.13 at 9:00 a.m. Saudi time.
Stock news
Al Moammar Information Systems signed an initial agreement with Saudi Fransi Capital for SR150 million ($40 million), with the goal of setting up a private fund to invest in a Saudi technology startup
Sadr Logistics Co. decided not to distribute cash dividends to shareholders for 2021 in order to strengthen its financial position
Middle East Specialized Cables Co. appointed Fadhil Fawzan Alsaadi as CEO effective Apr. 5
Alhasoob Co. signed a non-binding deal with Huawei Saudi Arabia, whereby Alhasoob will be authorized to conduct sales activities on behalf of the telecom operator in a bid to scale small and medium enterprises
Salama Cooperative Insurance Co. chose Yaqeen Capital as the financial advisor for its planned capital reduction process
