RIYADH: Saudi stocks ended higher for a third straight day on Wednesday, thanks to strong earnings results from most listed companies.
TASI, the main index, gained 0.8 percent to close at 12,431 and the parallel Nomu market edged 0.13 percent higher to 22,227.
Most Gulf peers advanced in line with Saudi Arabia, led by a 0.8 percent gain for Abu Dhabi’s bourse.
Dubai, Oman, and Qatar added 0.3, 0.1, and 0.4 percent, respectively, while Bahrain and Kuwait were down 1 percent and 0.2 percent, respectively.
Elsewhere in the Middle East, Egypt’s EGX30 exited the session almost flat.
In energy trading, Brent crude was priced at $97.31 a barrel by 9:16 a.m. Saudi time on Thursday, while US West Texas Intermediate traded at $91.79 a barrel.
Stock news
ACWA Power Co. said that operations at Umm Al Quwain IWP were launched, with a production capacity of 682,000 cubic meters per day of desalinated potable water
ACWA Power recorded a 21 percent jump in profits to SR542 million ($144 million) for the first half of 2022
Savola Group entered an SR459 million agreement to sell its shares in Knowledge Economic City Co. and Knowledge Economic City Developers Co. Limited to Taiba Investment Co.
Astra Industrial Group reported a 202 percent profit surge to SR318 million for the first half of 2022
Saudi Co. for Hardware turned into losses of SR19 million during the first half of 2022. The company also appointed Sameer Alhamidi as vice chairman of the board effective Aug. 11
Saudi Vitrified Clay Pipes Co.'s net losses widened by 661 percent to SR9 million during the first half of 2022
Eastern Province Cement Co. posted a 41 percent profit drop to SR72 million
Walaa Cooperative Insurance Co. got the Capital Market Authority’s approval to increase its capital to SR850 million for the merger with SABB Takaful
Saudi Arabian Mining Co. announced that Mansourah & Massarah gold mine plant is near completion, adding that pre-commissioning activities started
Saudi Industrial Services Co.’s profit dropped 93 percent during the first half of 2022 to SR3.9 million
Calendar
August 14, 2022
Saudi Aramco will announce its financial results for the second quarter of 2022
Close of Naba Alsaha Medical Services Co.’s IPO subscription
August 15, 2022
Naqi Water Co. will start trading its shares on the Saudi Exchange’s main market
