RIYADH: Saudi stocks closed lower in the previous session, as Fitch revised the ratings of major listed companies and earnings continued to kick in.
TASI the main index slipped 0.3 percent to 13,503, and the parallel market Nomu edged up by 0.6 percent.
Among the heaviest weights on TASI, oil giant Aramco and SABIC both advanced, after Fitch Ratings revised their long-term foreign-currency issuer default rating to positive from stable.
In line with the Saudi main index, stock markets of Bahrain and Oman both lost 0.4 percent, while those of Dubai, Kuwait, and Egypt recorded gains.
Elsewhere, indexes of Qatar and Abu Dhabi remained flat at the session’s close.
Oil prices edged higher, with Brent crude trading at $105.95 a barrel and US benchmark WTI reaching $102.43 a barrel as of 9:26 a.m. Riyadh time on Wednesday.
Stock news
Al Rajhi bank’s profit surged 24 percent to SR4.1 billion ($1.09 billion) in the first quarter of 2022
The net profit of the Saudi National Bank, the Kingdom’s largest lender, hit SR4.5 billion in the first quarter, up 32 percent from a year ago
The Saudi Investment Bank recorded a rise in quarterly profit of 34 percent to SR287 million
Red Sea International Co. signed a contract with Samsung C&T to provide accommodation complexes for ADNOC's operation in UAE
Profits of the National Co. for Glass Industries, known as Zoujaj, increased by 260 percent in the first quarter, reaching SR35.3 million
National Industrialization Co.'s profit stood at SR309 million last quarter, down 5.6 percent from the same period in 2021
Riyad Bank recorded a 15 percent surge in quarterly profits to SR1.55 billion
Profits of Saudi British Bank, or SABB, slightly rose to SR1 billion in the first quarter of 2022, up from SR970 million a year earlier
Arab National Bank posted a 12 percent increase in profit to SR650 million in the first quarter
Saudi Cement Co.’s profits dropped by almost 50 percent to SR61 million last quarter on lower sales
Fitaihi Holding Group appointed Ahmed Hassan Ahmed Fitaihi as chairman of the board of directors and Ibrahim Hassan Mohammed Al-Madhoun as vice chairman
Anaam International Holding Co. closed a deal to acquire 55 percent of medical supplies manufacturer ARW Industry Co. at SR15 million
Bank Albilad appointed Nasser Mohammed Al-Subaie as board chairman and Adeeb Mohammed Abanumai as vice chairman for a three-year term starting April 17
Calendar
April 27, 2022
Alkhabeer Growth and Income Traded Fund will list on Saudi Arabia’s main market
Saudi Industrial Investment Group will distribute SR0.75 per share in dividends for the second half of 2021
May 11, 2022
Start of Arabian Food & Dairy Factories Co.’s IPO book-building
May 15, 2022
Saudi Aramco will disclose its financial results for the first quarter of 2022
End of Arabian Food & Dairy Factories Co.’s IPO book-building
May 22, 2022
Start of Amwaj International Co.’s IPO book-building
May 25, 2022
End of Amwaj International Co.’s IPO book-building
