RIYADH: Saudi stocks rebounded on Sunday as a rise in oil prices boosted investor sentiment in the oil-rich nation.
TASI exited the day with a 1.3 percent gain at 12,689, while the parallel market Nomu advanced 0.58 percent at 22,402.
Elsewhere in the Middle East, stock exchanges of Qatar, Oman, and Bahrain added between 0.3 and 0.6 percent and Kuwait’s BKP index surged 1.9 percent.
The Egyptian EGX30 index closed 1.1 percent lower.
In energy trading, Brent crude reached $120.08 a barrel, and US benchmark West Texas Intermediate traded at $115.99 a barrel as of 9:23 a.m. Saudi time on Monday.
Stock news
Banque Saudi Fransi appointed Bader Hamad Al-Salloom as acting CEO effective June 1
East Pipes Integrated Co. sealed a deal worth SR490 million ($130 million) for the supply of steel pipes to Saline Water Conversion Corp.
Al Moammar Information Systems Co. is planning a capital increase of 20 percent to SR300 million by issuing bonus shares
Shareholders of solutions by stc, also known as Arabian Internet and Telecommunication Co., approved a dividend payout of SR4 per share for 2021
Gulf General Cooperative Insurance Co. was awarded a contract to provide insurance services for Al Wefaq Transport Solutions Co.’s vehicle fleet
Almunajem Foods Co. announced temporary suspension by the Saudi Food and Drug Authority on one of its imported poultry products
Saudi Paper Manufacturing Co. submitted a capital increase request to the Capital Market Authority, looking to raise its capital to SR337 million
Saudi Home Loans Co.’s shareholders are set to receive cash dividends of SR0.77 per share for 2021
The real estate arm of Batic Investment and Logistics Co. acquired a plot of land in Al Madinah for SR126 million
Red Sea International Co. submitted a filing to CMA to reduce its capital by nearly 50 percent to SR302 million then increase it to SR452 million through a rights issue
Emaar The Economic City closed a SR32 million lease deal with Saudi Airlines Real Estate Development Co.
Jabal Omar Development Co.’s accumulated losses fell from SR2.13 billion to SR1.18 billion, reaching 13 percent of capital at the end of 2021
Arabian Shield named two new board members, Mohammed Alkinani and Saud Bajbair, for the term ending Sept. 10, 2022
Etihad Atheeb Telecommunication Co. received a letter from the Communications and Information Technology Commission, stating it will cancel its license to use the frequency spectrum in the 3500MHz band if the company doesn’t fulfill its obligations
Calendar
May 30, 2022
Start of Saudi Real Estate Co.’s subscription to new shares and rights trading
Close of Anaam International Holding Group’s rights trading
May 31, 2022
End of Retal Urban Development Co.’s IPO book-building
June 2, 2022
Close of Anaam International Holding Group’s new shares subscription
June 6, 2022
End of Saudi Real Estate Co.’s rights trading
June 9, 2022
Close of Saudi Real Estate Co.’s new shares subscription
