RIYADH: Saudi Arabia’s main index returned to the 12000-point level on the back of a recovery in crude oil prices.
Oil prices rose over $1 a barrel on Monday before dropping in volatile Tuesday trade as worries over lower China demand mounted.
Brent crude futures edged down to $93.89 a barrel by 9:03 a.m. Saudi time. US West Texas Intermediate crude reached $87.77 a barrel.
The Tadawul All Share Index gained 0.7 percent to end Monday’s session at 12,022, while the parallel market Nomu added 0.8 percent to finish at 20,899.
Most Gulf peers ended in the green, led by Abu Dhabi and Dubai with gains of 1.4 and 1.2 percent, respectively.
Qatar and Bahrain followed with 0.7 percent and 0.1 percent, respectively, while the Omani and Kuwaiti indexes both lost 0.2 percent.
Outside the Gulf, Egypt’s EGX30 index advanced 0.8 percent.
Stock news
Future Care Trading Co.’s profit dropped 76 percent to SR4.8 million ($1.3 million) during the first half of 2022
Qassim Cement Co.’s board proposed a dividend payment of SR0.5 per share for the second quarter of 2022
Saudi Sumou Real Estate Co. signed an agreement with Adeer Real Estate Co. to sell and market Al Samiya residential project
National Gas Distribution Co. signed a memorandum of understanding with Egypt’s TAQA Arabia for potential collaboration in gas transportation services and networks
Naseej International Trading Co. recommended an increase of SR108 million in the company's capital
Knowledge Tower Trading Co. received approval from the Capital Market Authority to sell a 20 percent stake, or 350,000 shares, on Nomu
CMA issued its resolution approving the public offering of Albilad Multi-Asset Balanced Fund by AlBilad Investment Co.
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
