RIYADH: Saudi Arabia’s main stock market closed lower in the previous trading session, following a multiday rally.
At the closing bell, TASI was down 0.8 percent to 13,540 points, while the parallel market, Nomu, gained 0.2 percent to reach 24,311.
Stock exchanges in Dubai, Qatar, Oman, and Kuwait all rose between 0.3 and 0.6 percent, while those of Abu Dhabi and Bahrain ended almost flat.
Elsewhere in the Middle East, Egypt’s EGX30 slipped 0.5 percent.
Oil prices were lower Thursday morning.
Brent Crude was down 0.9 percent at $107.85 a barrel, while US West Texas Intermediate lost 1.2 percent to $103.01 at 9:26 a.m. Saudi time.
Stock news
Advance International Co. for Communication and Information Technology’s board approved a 25 percent capital boost after it recorded a 42 percent decline in annual profit to SR5.2 million ($1.4 million)
Najran Cement Co. got its board’s approval to distribute a half-year dividend of SR0.25 per share
SABIC Agri-Nutrients Co.’s shareholders approved the distribution of SR3 per share in cash dividends for the second half of 2021
Wataniya Insurance Co. received the board’s approval to increase its capital by 100 percent from SR200 million to SR400 million in order to support growth
Alinma Bank’s shareholders approved a dividend distribution of SR0.4 per share for the second half of 2021
solutions by stc sealed a three-year deal valued at SR195 million with telecom giant Saudi Telecom Co. to execute the Oracle software licenses renewal project
Theeb Rent a Car Co. announced the resignation of its board’s vice chairman, Hassan Samir Al-Shuwaikh, and the appointment of Riyadh Saleh Almalik
Al Moammar Information Systems Co. renewed a Shariah-compliant loan worth SR500 million with Al Rajhi Bank
Saudi Automotive Services Co. obtained a Shariah-compliant loan valued at SR375 million to finance its acquisition of gas station operator NAFT Co. and hedge against profit risks
Jazan Energy and Development Co. appointed Sultan Abdulaziz AlMubarak as board chairman and Feras Khalid Albawardi as vice chairman of the board
AlSagr Cooperative Insurance Co. announced that board member Fahad bin Abdulrahman Al-Turki has resigned “due to deliberately disrupting and harming the interests of the company”
Calendar
May 11, 2022
Start of Arabian Food & Dairy Factories Co.’s IPO book-building
May 15, 2022
End of Arabian Food & Dairy Factories Co.’s IPO book-building
