RIYADH: Saudi Arabia’s stock market concluded four out of five sessions in green last week, bolstered by strong earnings from most listed companies.
TASI, the main index, gained 0.8 percent to 12,530 on Thursday, while the parallel market Nomu was up 0.8 percent to 22,023.
Qatar led the gains in the Gulf to close 1.3 percent higher, followed by Abu Dhabi’s index with a 1 percent gain.
Bahrain and Kuwait added 0.9 and 0.1 percent, respectively, while Dubai and Oman were down 0.3 and 0.7 percent, respectively.
Elsewhere in the Middle East, the Egyptian blue-chip index EGX30 edged up 0.2 percent.
Oil prices settled lower on Friday, dragged down by fears over a potential recession.
Brent crude exited the week at $98.15 a barrel, while US West Texas Intermediate reached $92.09 a barrel.
Stock news
Aramco’s profit surged 90 percent in the second quarter of 2022 to SR182 billion ($48.4 billion), beating the median of analysts’ forecasts with the highest quarterly profit since going public in 2019
Saudi Tadawul Group Holding Co. posted a 23 percent first-half profit decline to SR278 million
National Gas and Industrialization Co. will distribute SR0.85 per share in cash dividends for the first half of 2022
Alandalus Property Co. reported SR35 million in profit for the first half of the year, down 8 percent from the same period a year ago
The National Agricultural Development Co., known as Nadec, turned into profits of SR43 million during the first half of 2022
Saudi Chemical Co. posted a 32 percent drop in first-half profit to SR47 million
Tanmiah Food Co.’s profits rose 43 percent to SR32 million during the first half of 2022
Bupa Arabia for Cooperative Insurance approved the re-appointment of Loay Hisham Nazer as chairman of the board and Martin Fletcher as vice chairman
Maharah Human Resources Co. reported a 26 percent decline in half-year profit to SR52 million
Academy of Learning Co. saw its profit rise 10 percent to SR8 million in the first six months of 2022
Calendar
August 14, 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
