RIYADH: Saudi stocks declined in last week’s final session in line with most Gulf peers, as oil prices continued to fluctuate.
The main TASI index finished 0.2 percent lower at 12,621, while the parallel Nomu market edged up 0.2 percent to 21,574.
Abu Dhabi, Dubai, Bahrain, and Oman all lost between 0.1 and 1.5 percent, while Qatar and Kuwait bucked the trend to close 0.2 percent higher.
Elsewhere in the Middle East, the Egyptian EGX30 index gained 0.4 percent.
Oil prices steadied on Friday but fell for the week on a stronger US dollar and fears that an economic slowdown would weaken crude demand.
Brent crude settled at $96.72 a barrel and US West Texas Intermediate crude exited the week at $90.77.
Stock news
Maharah Human Resources Co. secured SR363 million ($97 million) financing from Saudi banks, following the completion of an acquisition in Saudi Medical Systems
National Metal Manufacturing and Casting Co.’s losses widened by 6 percent to SR15.3 million in the first half of 2022
Saudia Dairy and Foodstuff Co. reported a 48 percent profit surge for the second quarter of 2022 to SR56 million
Al-Omran Industrial Trading Co.’s board proposed a SR60 million capital increase after the company’s first-half profit dropped 19 percent to SR5.9 million
The Mediterranean and Gulf Insurance and Reinsurance Co., known as MEDGULF, turned into losses of SR131 million in the first half of 2022
Profits of Saudi Home Loans Co. rose by over 8 percent to SR64 million in the first half of 2022
Saudi Pharmaceutical Industries and Medical Appliances Corp. swung into losses of SR21 million during the first half of 2022
Tourism Enterprise Co. returned to profit amounting to SR155,508 in the first half of 2022
Saudi Reinsurance Co.’s net profit before Zakat dipped 62 percent to SR14 million in the first half of 2022
Saudi Automotive Services Co. posted a 57 percent rise in first-half profit to SR38 million
Saudi Arabian Amiantit Co. saw its half-year losses shrink by 83 percent to SR10 million
Amiantit’s half-owned unit Tawzea Co. was awarded a SR400 million project to provide water treatment services
Jabal Omar Development Co.’s first-half losses widened by 316 percent to SR311 million
AME Co. for Medical Supplies announced a 62 percent increase in half-year profit to SR15 million
Arabian Plastic Industrial Co. said it intends to proceed with an initial public offering of a 20 percent stake on the Saudi Exchange
Canadian Medical Center Co. reported SR8 million in profit for the first half of 2022, up 60 percent from a year earlier
Gas Arabian Services Co.’s half-year profit jumped 16 percent to SR18 million
Gulf Union Alahlia Cooperative Insurance Co.’s losses narrowed by 82 percent to SR19 million in the first half of 2022
SABB Takaful Co. posted a 15 percent profit increase to SR5.6 million for the first half of the year
Saudi Industrial Services Co. intends to purchase up to 10 percent of its ordinary shares to be held in treasury
Najran Cement Co. appointed Waleed Al-Mousa as chairman of the board and Fahd Al-Rajhi as vice chairman
Al Alamiya for Cooperative Insurance Co. turned into losses of SR20 million during the first half of 2022
Calendar
August 22, 2022
International Human Resources Co. will start trading its shares on the Saudi Exchange
