RIYADH: Saudi stocks extended gains for a third straight day on Tuesday in line with higher oil prices which lifted most major Gulf markets.
The Kingdom’s main index TASI and its parallel Nomu market both finished the session 0.5 percent higher at 12,084 and 20,997 points, respectively.
Dubai’s DFMGI led the region’s gains as it surged 1.6 percent, bolstered by the initial public offering of its road-toll operator Salik.
Abu Dhabi, Qatar, Kuwait, and Bahrain recorded gains amounting up to 0.8 percent, while the Omani bourse slipped 0.3 percent.
Elsewhere in the Middle East, Egypt’s EGX30 reversed multi-session gains to end 0.4 percent lower.
Brent crude reached $92.76 per barrel on Wednesday, and US West Texas Intermediate traded at $86.92 per barrel by 8:59 a.m. Saudi time.
Stock news
Seera Group signed a non-binding deal to sell a SR3.75 billion ($1 billion) stake in its travel unit Almosafer to the Public Investment Fund
Taiba Investments Co.’s shareholders approved the purchase of all Savola Group Co.’s shares in Knowledge Economic City Co. for SR459 million
Scientific & Medical Equipment House co. was awarded a SR118 million contract from the Ministry of Education to operate and maintain a health center at Najran University
United Electronics Co., known as eXtra, invited its shareholders to vote on a 33 percent capital increase to SR800 million
Keir International Co. reported a 63 percent growth in net profit to SR7 million in the first half of 2022
Gas Arabian Services Co. won SR108 million contract from Advanced Polyolefins Industry Co.
Calendar
September 22, 2022
Tadawul will be closed for the Saudi National Day
