Economy

TASI up slightly as oil prices spike: Closing bell 

Follow-ups -eshrag News:

Author: 
Thu, 2022-03-03 16:48

RIYADH: Saudi stocks ended slightly higher this week, despite a downturn in other markets as traders shunned in light of the Ukraine-Russia conflict.

As of Thursday, the main index, TASI, closed 0.80 higher percent to reach 12,756, while the parallel market, Nomu, dropped 0.78 percent to reach 24,767.

Brent crude oil continues to hit record highs, reaching $113.22 per barrel, while US benchmark WTI crude oil reached $115.35 per barrel at 3:40 p.m., Saudi time.

Saudi oil giant Aramco’s shares ended the trading session with gains of 2.90 percent.

Saudi Arabian Mining Co., known as Ma’aden, led the gainers with a 6.64 percent rise, while AlJazira REIT led the fallers with a 4.17 percent loss.

Theeb Rent a Car Co. rose 4.46 percent, as its profit doubled from SR63 million ($16 million) to SR126 million in 2021.

Southern Province Cement Co. edged up 0.74 percent, as its board recommended distributing dividends of SR1.25 per share for the second half of 2021.

In the financial sector, Alinma Bank shares rose 0.14 percent, while Al Rajhi Bank’s shares dropped 0.13 percent.

Main category: 
Business & Economy
Tags: 
Saudi Stock Exchange (Tadawul)

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