TASI opens in positive territory; Aramco breaks another record: Opening bell

RIYADH: The main Saudi index climbed higher for a third day in a row at the start of Thursday’s trading, as oil prices continue to spike.

Brent crude reached $117 per barrel, while US benchmark WTI traded at $114.64 per barrel as of 10:06 a.m. Saudi time.

TASI opened 0.58 percent higher at 12,728, while the parallel market , Nomu, traded 0.10 percent lower at 24,938, as of 10:06 a.m Saudi time.

Saudi Aramco shares soared over 3 percent to another record high of SR44.5 ($11.9). 

Theeb Rent a Car Co. led the gainers adding 5.36 percent, while Al-Baha Investment and Development Co. led the fallers with a loss of 1.72 percent.

In the financial sector, Alinma Bank rose 0.56 percent, while the Kingdom’s largest valued bank Al Rajhi Bank gained 0.77 percent.

Herfy Food Services Co. rose 0.35 percent, after shareholders with over 5 percent stakes requested a general assembly meeting to vote on suspending the board chairman.

Southern Province Cement Co. gained 0.15 percent, as its board proposed a dividend of SR1.25 per share for the second half of 2021.