RIYADH: Saudi Arabia’s main stock market ended the previous month 4.9 percent higher, backed by strong quarterly earnings.
TASI the main index closed at 13,733 points, while the parallel market Nomu reached 23,909 points on Apr. 28 before the market stopped trading for the one-week Eid al-Fitr break.
Meanwhile, global markets witnessed a steep decline last week, following a decision by the US Fed to hike interest rates.
Oil prices posted their second week of gains amid plans by the European Union to ban Russian oil imports.
Brent crude ended the week at $112.39 a barrel, while US benchmark West Texas Intermediate was at $109.77 a barrel.
Stock news
Saudi utility provider ACWA Power Co. has been selected as the preferred bidder to develop two solar projects in Indonesia
The Saudi Ground Services Co. has appointed Khalid Al Buainain as board chairman and Omar Jefri as vice chairman for a three-year term
Alkhaleej Training and Education Co. announced that chairman Abdulaziz Al-Blaihid passed away on April 28, adding that updates about the appointment of a replacement will be disclosed later
Calendar
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
