RIYADH: Saudi Arabia’s main stock market edged down on Tuesday, even as positive earnings reports continued to kick in.
The main index TASI finished 0.23 percent lower at 12,310, while the parallel Nomu market added 0.2 percent to 21,547.
While most Gulf stock markets ended in the red zone, Abu Dhabi and Oman bucked the trend with each gaining 1.2 percent on Tuesday.
Dubai, Qatar, Bahrain, and Kuwait all lost between 0.3 and 1.2 percent.
Elsewhere in the Middle East, the Egyptian main index gained 0.2 percent.
In energy trading, Brent crude slipped to $100.53 a barrel by 9:05 a.m. Saudi time on Wednesday, while US West Texas Intermediate traded at $94.4 a barrel.
Stock news
Saudi Telecom Co. saw its profit rise to SR5.9 billion ($1.6 billion) in the first half of 2022, allowing it to distribute quarterly dividends worth SR2 billion, or SR1 per share
Naqi Water Co.’s initial public offering’s retail tranche was 1,353 percent covered, generating SR560 million worth of subscriptions
Saudi British Bank’s profit increased by 10 percent to SR2.1 billion in the first half of 2022
Herfy Food Services Co.’s half-year profit was down 7 percent to SR49 million, weighed down by lower sales
Red Sea International Co. signed two contracts worth SR59 million with MDLBEAST to manufacture and supply prefabricated steel structures
Sumou Real Estate Co. reported a 4.3 percent decline in profit during the first half of 2022 to SR45 million
Ash-Sharqiyah Development Co. was suspended from trading its shares on the Saudi Exchange upon the company’s request
Raoom Trading Co. reported a 6 percent profit increase to SR16 million for the first half of 2022
East Pipes Integrated Co. for Industry obtained financing worth SR275 million to fund one of its projects
Unitholders of Al Rajhi REIT Fund will receive cash dividends of SR53 million in total for the first half of 2022
August 14, 2022
Saudi Aramco will announce its financial results for the second quarter of 2022
