RIYADH: Saudi Arabia’s stock market advanced on Monday in line with most Gulf peers, as positive earnings reports propelled stock gains.
TASI, the main index, rose 0.7 percent to 12,297, while Nomu, the parallel market, surged 1.4 percent to 22,072.
Abu Dhabi outperformed the Gulf as it finished 1.9 percent higher, followed by Qatar and Dubai with a 1.4 and 1 percent gain, respectively.
Oman and Kuwait added 0.2 and 0.1 percent, respectively, while the Bahraini index ended almost flat.
Apart from the Gulf, Egypt’s blue-chip index reversed gains to close 0.8 percent lower.
Oil prices edged up on Tuesday, with Brent crude trading at $96.68 a barrel and US West Texas Intermediate reaching $90.81 a barrel by 9:03 a.m. Saudi time.
Stock news
Saudi chemical giant SABIC reported a surge in second-quarter profits to SR7.93 billion ($2.1 billion), beating analysts’ average estimate of SR5.9 billion
Bawan Co. announced a SR0.85 per share half-year dividend after posting a 12 percent profit increase to SR95 million for the first half of 2022
United Electronics Co.’s half-year profits advanced 24 percent to SR225 million. The company’s board recommended a capital increase of 33 percent to SR800 million
Arabian Cement Co. saw its profits drop by 14 percent to SR87 million during the first half of 2022, propelling a dividend payout of SR1.1 per share for the same period
Saudi Airlines Catering Co. turned into profits of SR78.8 million during the first half of 2022, from SR47.5 million losses in the prior-year period
Nahdi Medical Co.’s shareholders will receive SR2.31 per share in cash dividends for the first half of 2022, following a 20 percent profit surge to SR506 million during the six-month period
Retal Urban Development Co.’s board proposed SR2 per share in cash dividends for the first half of 2022 as half-year profits jumped 10 percent to SR93.5 million
The Saudi Fisheries Co. secured financing worth SR76 million to fund operational activities
BinDawood Holding Co. completed the acquisition of an 80.5 percent stake in Ykone, a subsidiary of French TF1 Group
East Pipes Integrated Co. for Industry’s board proposed a capital increase of 50 percent to SR315 million by granting bonus shares
Al Jouf Cement Co.’s shareholders will vote on a 24 percent capital reduction to SR1.09 billion on Aug. 29
Saudi Azm for Communication and Information Technology Co. signed an SR8 million contract with the General Commission for the Guardianship of Trust Funds for Minors and Their Counterparts
Calendar
August 9, 2022
Alamar Foods Co. will start trading its shares on the Saudi Exchange
August 14, 2022
Saudi Aramco will announce its financial results for the second quarter of 2022
Close of Naba Alsaha Medical Services Co.’s IPO subscription
