Shares in Saudi telecom firm Zain fall, despite doubling profit in Q1
Follow-ups -eshrag News:
RIYADH: Saudi Arabia’s main stock market extended gains on Sunday, tracking a rise in oil prices last week.
TASI was up 0.5 percent to 13,682 at the closing bell, with Saudi Arabia’s largest valued bank Al Rajhi touching its highest level since its market debut of SR177.6 ($47.4).
The parallel Nomu market closed 0.9 percent lower at 24,193.
Elsewhere in the GCC, stock exchanges in Qatar and Kuwait slipped, the Omani index added 0.5 percent, and Bahrain’s BAX ended flat.
Dubai’s DFMGI rose on Friday, fueled by gains in state utility Dubai Electricity and Water Authority following a strong market debut. Abu Dhabi’s index remained intact.
The Egyptian blue-chip index EGX30 inched up by 0.3 percent.
Oil prices climbed to nearly three-week highs on Monday as Brent crude reached $112.23 per barrel and US benchmark WTI traded at $107.41 at 9:00 a.m. Saudi time.
Stock news
Saudi National Bank, SNB, shareholders approved the board’s recommendation to distribute a half-year cash dividend of SR0.9 per share
Telecom Zain KSA reported a 98 percent increase in profit to SR81 million in the first quarter of 2022
Shareholders of the Saudi British Bank, or SABB, approved the board’s cash dividend recommendation of SR0.36 per share for the second half of 2021
National Fertilizer Co. announced the board’s decision to pay out a dividend of SR0.9 per share for the second half of 2021
Kingdom Holding Co. received its shareholders’ approval to distribute SR0.5 per share in annual dividends
Profits of Yanbu National Petrochemical Co., known as Yansab, fell by 33 percent to SR283 million during the first quarter of 2022 compared to a year ago
Shareholders of Arabian Cement Co. approved the board’s proposal to pay SR1.5 per share in dividends for the second half of 2021
The Saudi Exchange approved an amended set of listing rules, related to transitioning from the parallel Nomu market to the main market, in addition to general changes
Saudi cable manufacturer United Wire Factories Co., better known as Aslak, posted a 61-percent profit increase to SR26 million in the first quarter of 2022
Al Hammadi Co. for Development and Investment obtained a Shariah-compliant loan valued at SR365 million to fund future expansions
Mulkia Gulf Real Estate REIT Fund said it will distribute cash dividends of SR0.13 per unit for the first quarter of 2022
Anaam Holding Group signed a deal for Shariah-compliant financing worth SR160 million with Alinma Bank
National Medical Care Co. closed a deal worth SR42 million to renovate Riyadh Care Hospital
Calendar
May 11, 2022
Start of Arabian Food & Dairy Factories Co.’s IPO book-building
May 15, 2022
Saudi Aramco said it will disclose its financial results for the first quarter of 2022
End of Arabian Food & Dairy Factories Co.’s IPO book-building
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