Saudi developer Jabal Omar’s losses shrink to S314m on post-pandemic recovery

Follow-ups -eshrag News:

RIYADH: Saudi stocks ended higher on Sunday, despite investors’ concerns about the risk-off sentiment caused by recession fears.

The main index, TASI, gained 1.27 percent to reach 12,689, while the parallel market, Nomu, advanced 0.58 percent at 22,402.

Halwani Bros. Co. gained 8.07 percent, leading gains; Saudi Industrial Export Co. slumped 8.86 percent, leading the fallers.

Among the gainer’s list, Kingdom Holding Co. edged up 5.54 percent, while Bawan Co. soared 7.35 percent.

In the financial sector, the Kingdom’s largest valued bank Al Rajhi rose 2.34 percent, and Alinma Bank added 1.71 percent.

Telecom giants stc and Mobily were both up by 0.58 percent and 1.84 percent respectively.

Further, in the telecom sector, Zain KSA shares rose 0.92 percent, after receiving approval for Zain Business Ltd to acquire 8,069 of its telecom tower sites.

In the pharma sector, Aldawaa Medical Services Co. increased 0.38 percent, while Nahdi Medical Co. climbed 2.55 percent.

Saudi Aramco, the largest player on the Saudi oil market, finished today’s trading up 1.60 percent.

Oil prices rose on Friday, with Brent crude exiting the week at $119.43 and US West Texas Intermediate settling at $115.07.


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