RIYADH: Saudi Arabia’s stock market closed higher on Monday for a third successive day after the Kingdom hiked prices for its crude sales in July.
The main index, TASI, gained 1.31 percent to 12,821.96 and the parallel market, Nomu, advanced 0.02 percent to 22,551.
Similarly, the Qatari index and Dubai's main index gained 1.3 percent and 0.1 percent, respectively. However, the Abu Dhabi index closed 0.7 percent lower.
Outside the Gulf, Egypt's blue-chip index closed flat.
In the energy sector, Brent crude rose 0.72 percent to reach $120.37 per barrel, while WTI crude gained 0.71 percent to $119.34 per barrel as of 9:37 a.m. Saudi time.
Stock news
Allied Cooperative Insurance Group elected Yasser Al Jarallah as chairman and Fayez bin Saleh as vice chairman of the board.
Shareholders of Saudi Marketing Co., known as Farm Superstores, approved the board’s recommendation to not distribute cash dividends for 2021.
The Saudi Industrial Export Co. announced a decrease in its accumulated losses to 10.64 percent of capital, which is almost SR194 million ($52 million).
Abdullah Al Othaim Markets Co. added nine new branches in the first quarter, increasing its branch network by 7.31 percent.
Calendar
June 7, 2022
End of lock-up period for Public Investment Fund in Saudi Tadawul Group
June 9, 2022
Close of Saudi Real Estate Co.’s new shares subscription
