RIYADH: Saudi stocks slightly regained momentum on Sunday, lifted by a rebound in crude prices at the end of last week.
Oil prices rose about 4 percent on Friday after dropping to a seven-month low earlier in the week, supported by threatened cuts to supply.
The Kingdom’s main index TASI advanced 0.9 percent to end at 11,940 on Sunday, while Nomu added 1.5 percent to 20,737.
Gulf gains were led by the Qatari index which jumped 1.2 percent, followed by a 0.2 percent increase for both Oman and Kuwait.
Bahrain’s BAX, on the other hand, finished almost flat.
Elsewhere in the Middle East, the Egyptian blue-chip index EGX30 gained 0.9 percent.
In energy trading, Brent crude dropped to $91.48 a barrel on Wednesday, and US West Texas Intermediate reached $85.35 a barrel by 8:48 a.m. Saudi time.
Stock news
Al Alamiya for Cooperative Insurance Co. announced the resignation of its CEO Khalid Allagany
Saudi Automotive Services Co. will distribute SR0.5 ($0.13) per share in dividends for the first half of 2022 on Sept. 21
Calendar
September 13, 2022
End of Arabian Plastic Industrial Co.’s IPO book-building
September 22, 2022
Tadawul will be closed for the Saudi National Day
