RIYADH: Saudi Arabia’s stock exchange ended its five-day winning streak to close slightly lower on Sunday, tracking Friday’s drop in oil prices.
TASI, the main index, edged down 0.11 percent to 11,975, while the parallel Nomu market rose 0.46 percent to 21,056.
Fellow GCC bourses were mixed. Bahrain led the gainers as it added 0.7 percent, Oman and Qatar followed with a 0.6 and 0.3 percent gain, respectively, while the Kuwaiti index slipped 0.3 percent.
Apart from the GCC, Egypt’s EGX30 snapped gains from a week earlier to close 0.2 percent down.
Oil prices extended losses on Monday, with Brent crude falling to $102.58 a barrel and US West Texas Intermediate reaching $93.89 a barrel as of 9:20 a.m. Saudi time.
Stock news
United International Transportation Co. signed an initial deal to potentially acquire a 70 percent stake in Overseas Development Co.’s subsidiaries in Saudi Arabia, UAE, and Kuwait
Red Sea International Co.’s shareholders approved a 50 percent capital reduction to SR302 million ($80 million)
Unitholders of Taleem REIT Fund will receive a cash dividend of SR0.18 per unit for the second quarter of 2022
Ladun Investment Co. obtained SR100 million financing from Bank Albilad
Saudi Ceramic Co. reported a 33 percent profit drop to SR89 million for the first half of 2022
Saudi Cable Co. invited its shareholders to vote on the board’s recommendation to reduce the company’s capital by 74.6 percent
Anaam International Holding Group announced the expiry of the memorandum of understanding to buy 55 percent of Abu Zaid Restaurants Co.’s shares
Naseej for Technology Co. was awarded a SR13 million project for cloud migration and to develop students’ e-services at the Technical & Vocational Training Corp.
Saudi Paper Manufacturing Co.’s profits surged by 17 percent to SR34 million during the first half of 2022
Calendar
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
