RIYADH: Saudi Arabia’s main stock market crossed the 13,900 level for the first time in 16 years on Monday, but gave up gains later in the day due to lower investor confidence.

TASI, as the main index is known, closed flat at 13,814 points, and the shadow market Nomu fell 0.3 percent to 23,475 points.

Elsewhere in the Gulf, stocks in Abu Dhabi, Dubai, Qatar, Bahrain and Kuwait were down, and Dubai’s DFGMI fell 2 percent.

Contrary to the regional trend, Oman’s stock added 0.5 percent.

Outside the Gulf, Egypt’s blue chip EGX30 index lost 1.8 percent.

In energy trading, Brent crude hit $105.1 a barrel and the US benchmark West Texas Intermediate traded at $102.35 a barrel at 9:22 am Saudi time Tuesday.

stock market news

Petrochemical company SABIC Agri-Nutrients Co. saw a nearly six-fold increase in quarterly profit to SR2.5 billion ($670 million), driven by increased sales

Saudi Arabia’s National Shipping Co., known as Bahri, announced plans to issue SR3.9 billion worth of Sukuk.

Shareholders of PIF-owned digital security firm Elm approved SR3 per share as cash dividends for 2021

Amlak International for Real Estate Finance posted an 8 per cent rise in first quarter profit to SR27 million

Shareholders of Zahrat Al Waha for Trading Co. approved a cash dividend of SR 1.5 per share for 2021

United Arab Emirates-based Aventus Global, a wholly owned unit of Saudi marketing firm Tihama, has signed an agreement with Nextbite to transfer its assets and liabilities worth Dh3.7m.

Abdullah Al Othaim Investment Co. said it intends to proceed with an initial public offering of a 30 percent stake in Saudi Arabia’s main stock market.

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Saudi Exchange announced the delisting of Saudi Electricity Co. Sukuk 5113, after the state-owned company fully redeemed its sukuks.

Saudi Industrial Investment Group reported a 23 percent profit drop for the first quarter to SR235 million due to higher raw material costs

Shareholders of Mouwasat Medical Services Co. approved the board’s recommendation to distribute annual cash dividends of SR 2.75 per share

Wafrah for Industry and Development Co. turned from a loss to a profit of SR 6.15 million during the first quarter of 2022

Seera Group Holding cut losses by 52 per cent to SR63 million last quarter, fueled by a rebound in travel

Jarir Marketing Co. said it will distribute a dividend of SR2.05 per share after profit fell 6 percent to SR251 million last quarter.

Al-Baha Investment and Development Co. managed to reduce its accumulated losses to 27.5 percent of the capital, in the amount of SR 81.7 million.

Calendar

May 11, 2022

Beginning of the bookmaking of the initial public offering of Arabian Food & Dairy Factories Co.

May 15, 2022

Saudi Aramco will disclose its financial results for the first quarter of 2022

End of Arabian Food & Dairy Factories Co. IPO book creation

May 22, 2022

Beginning of Amwaj International Co. IPO book creation

May 25, 2022

End of creation of Amwaj International Co. IPO books



Reference-arab.news

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