TASI begins up following its lowest close since January: Opening bell
Follow-ups -eshrag News:
RIYADH: Saudi Arabia’s main stock index struggled to regain momentum on Monday. Despite ending in green, it remained at one of its lowest levels since January.
This was in response to aggressive interest rate hikes around the globe, leading to investors worrying about a potential recession.
At the closing bell, TASI, as the main index is known, added 0.55 percent to 11,361, while the parallel market Nomu rose 1.45 percent to 21,042.
Fellow stock exchanges in the Gulf saw a mixed performance on Monday, dominated by drops in UAE indexes as Abu Dhabi and Dubai lost 1.1 and 1.6 percent, respectively.
Qatar, Bahrain, and Kuwait also retreated, while the Omani bourse advanced by 0.4 percent.
Outside the Gulf, the Egyptian blue-chip index EGX30 extended losses to end the session 0.5 percent lower.
In energy trading, Brent crude slightly rose to $114.95 a barrel and US West Texas Intermediate traded at $111.52 a barrel as of 9:13 a.m. Saudi time on Tuesday.
Saudi Arabia’s crude oil exports grew 147,000 barrels per day in April to a two-year high of 7.38 million, according to data released by the Joint Organizations Data Initiative.
Stock news
PIF-owned ACWA Power Co. secured a SR3 billion ($800 million) deal to develop and construct a 600,000 cubic meter per day water plant in the Shuaibah governorate
Dallah Healthcare Co. signed a deal to acquire an additional 19 percent stake in International Medical Center Co. for SR712 million
Al Hammadi holding received shareholders’ approval to increase its capital by 33.3 percent to SR1.6 billion
Al Hammadi Holding appointed Saleh Alhammadi as board chairman, Abdulaziz Alhammadi as vice chairman, and Mohammed Alhammadi as managing director and CEO
Nomu-listed National Building and Marketing Co. hired Yaqeen Capital as an advisor on its transition to the main index TASI
Saudi Automotive Services Co. started operations at its SR11 million gas station located in Buraydah city
Saudi Real Estate Co.’s rump offering was fully subscribed, generating SR109 million in proceeds
City Cement Co. named Prince Abdulaziz Al Saud board chairman and Badr Al Abdullatif as vice-chairman and managing director
Calendar
June 21, 2022
Rabigh Refining and Petrochemical Co.’s rights trading ends
June 26, 2022
Rabigh Refining and Petrochemical Co.’s subscription to new shares ends
June 27, 2022
End of Alamar Foods’ IPO book-building
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