https://arab.news/n8suw
RIYADH: Saudi stocks ended Monday’s session higher, as investors awaited more earnings reports while trying to assess the impact of rising inflation.
The Tadawul All Share Index edged up 0.23 percent to finish at 12,543, while the parallel market, Nomu, gained 0.31 percent to end at 22,110.
Wafrah for Industry and Development Co. soared 5.09 percent, after the company swung to a profit of SR11 million ($2.92 million) during the first half of 2022.
Arabian Internet and Telecommunication Co., known as solutions by stc, increased 1.55 percent, following the Saudi competition authority’s approval of Egypt’s Giza Systems’ acquisition.
Saudi Tadawul Group Holding Co. added 0.75 percent, despite the announcement of a 23 percent decline in profits during the first half of the year to SR278 million.
Saudi Aramco closed flat, after it achieved its highest quarterly profit since going public in 2019 with SR182 billion ($48.4 billion), a 90 percent jump over analysts’ expectations.
Saudi jeweler L’azurde fell 2.15 percent, despite reporting a 22 percent profit rise in the first half of 2022 to SR22.2 million
Basic Chemical Industries Co. lost 2.19 percent, despite achieving a 63 percent profit increase to SR46 million for the first half.
Red Sea International Co. declined 0.14 percent to lead the gainers, after the real estate firm announced that its accumulated losses have been cut to zero, following a reduction in the company’s capital by SR298 million.
Saudi Printing and Packaging Co. fell 2.25 percent, after the company narrowed its losses by 91.8 percent to SR2 million during the first half.
Arabian Shield Cooperative Insurance Co. slipped 0.64 percent, after posting a 30 percent profit decline to SR16 million for the first half.