Oil Updates — Crude slides; Nigeria raises $482m from oilfield licenses; Exxon, Imperial to sell shale assets
Follow-ups -eshrag News:
RIYADH: Saudi stocks opened Wednesday’s session in red as investors awaited possible stabilization of oil prices.
The main index, TASI, fell 0.19 percent to 11,648, while the parallel market, Nomu, added 1.02 percent to 20,565 as of 10:09 a.m. Saudi time.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. led the gainers with 3.93 percent gain, after it posted SR15 million ($4 million) in profit for its fiscal year ending March 31, 2022, an increase of 183.3 percent.
Leading the fallers was Tihama Advertising and Public Relations Co., down 2.67 percent.
Saudi Aramco, the largest player on the Saudi oil market, started today’s trading down 0.77 percent.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi dropped 0.59 percent, while Bank Aljazira fell 0.09 percent.
Al Moammar Information Systems Co. edged down 0.50 percent, following an agreement with US-based Cloudera to host and distribute its services in the Kingdom.
SABIC Agri-Nutrients Co. gained 0.84 percent, following the announcement that it will pay dividends of SR4 a share in the first half of the year.
Saudia Dairy and Foodstuff Co. fell 0.47 percent, following shareholders approval of SR0.50 per share for dividends in 2021.
Dar Alarkan Real Estate Development Co. decreased 1.25 percent, following the appointment of Yousuf Al Shelash as chairman and Majed Abdul Rahman Al Qasim as vice chairman.
Retal Urban Development Co. lost 1.81 percent, following the acquisition of SR339 million in residential land in the Sedra Masterplan Community.
In energy trading, Brent crude settled at $117.10 a barrel and US West Texas Intermediate reached $111.20 a barrel, as of 10:06 a.m. Saudi time.
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