Japan refiner Eneos to buy alternative to Russian crude from Middle East
Follow-ups -eshrag News:
RIYADH: Saudi Arabian stocks snapped a series of gains to end lower on Tuesday in line with oil prices.
The main TASI index was down 1.1 percent to 13,505 in one of its biggest daily drops recently, and the parallel Nomu market slipped 0.5 percent to 24,088.
Dubai and Kuwait led the gainers in the GCC, up 1.6 and 1 percent, respectively.
Stock markets in Qatar and Oman slightly advanced, while the Bahraini and Abu Dhabi indexes edged down.
Apart from the Gulf, Egypt’s EGX30 index shed 0.9 percent.
Oil prices rebounded on Wednesday, with Brent crude rising to $108.2 a barrel, and US benchmark West Texas Intermediate reaching $103.8 at 9:08 a.m. Saudi time.
Stock news
Oil giant Saudi Aramco got the Capital Market Authority’s approval to increase capital from SR60 billion ($16 billion) to SR75 billion by issuing bonus shares
Saudi Leejam Sports Co. turned a loss of SR6.9 million into a profit of SR46 million in the first quarter of 2022
Food delivery app Jahez signed an initial agreement to fully acquire Marn Business Information Technology Co.
Saudi developer Arriyadh Development Co. posted a 25 percent profit increase to SR139 million in the first quarter of 2022
Shareholders of Halwani Brothers Co. approved the the board’s recommendation to distribute cash dividends of SR2 per share for 2021
solutions by stc, a unit of Saudi telecom giant stc, posted a 38 percent increase in profit during the first quarter of 2022, driven by higher revenues
Saudi Ceramic Co. saw a 27 percent drop in quarterly profit to SR51.3 million
National Medical Care Co.’s board proposed a dividend payout of SR1 per share for 2021
Calendar
April 20, 2022
Shares of Saudi Home Loans will start trading on the main market
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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