RIYADH: Saudi stocks notched their fourth day of the week in green as oil prices continued to rise on Wednesday.
TASI, the main index, closed 0.9 percent higher at 11,864 points, whereas the parallel Nomu market edged 0.3 percent lower to 20,760.
Saudi Arabia was outperformed by Qatar’s QSI, which jumped as high as 3.4 percent, with its largest lender Qatar National Bank adding 5.3 percent.
Stock exchanges in Dubai, Abu Dhabi, Oman, Bahrain, and Kuwait all advanced between 0.7 and 1.4 percent.
Apart from the Gulf, the Egyptian blue-chip index also extended its rebound by gaining 0.8 percent.
In the energy market, Brent crude traded at $106.58 a barrel at 9:17 a.m. Saudi time on Thursday, while US West Texas Intermediate reached $102.26 a barrel.
Stock news
Kingdom Holding Co. invested SR1.01 billion ($268 million) in UK-based fund manager M&G plc., which oversees over $370 billion in assets
National Shipping Co. of Saudi Arabia, better known as Bahri, closed the issuance of SR3.9 billion sukuk with 1.95 times oversubscription
Arabian Centres Co. signed a SR969 million lease and investment agreement to develop Jawharat Al-Khobar Mall on 300,000 square meters of land in Al-Khobar city
Aldrees Petroleum and Transport Services Co. recorded a 44 percent increase in profit to SR108 million for the first half of 2022
Calendar
July 21, 2022
End of Naqi Water’s IPO book-building
July 24, 2022
Start of Saudi Networkers Services Co.’s IPO subscription
July 28, 2022
End of Saudi Networkers Services Co.’s IPO subscription
August 14, 2022
Saudi Aramco will announce its financial results for the second quarter of 2022
