All you need to know ahead of the trading week on the Saudi Exchange
Follow-ups -eshrag News:
RIYADH: Saudi stocks closed the previous trading week lower, despite expectations by the International Monetary Fund that the Kingdom’s economy will grow in 2022.
The main TASI index fell to 13,534 points, down almost 1 percent on the week, and the parallel market Nomu slipped to 23,830.
Elsewhere in the Middle East, stock exchanges of Abu Dhabi, Dubai, Qatar, and Egypt all advanced at Thursday’s closing bell.
The Bahraini and Omani indexes shed 0.4 and 0.7 percent, respectively, while Kuwait’s BKP ended flat.
UAE stock markets extended gains on Friday, with Abu Dhabi and Dubai’s main indexes rising 0.2 and 0.6 percent, respectively.
Oil prices plunged last week on demand concerns, logging a weekly drop of nearly 4 percent.
Brent crude settled at $106.65 a barrel and US benchmark West Texas Intermediate reached $102.07 a barrel on Friday.
Stock news
Banque Saudi Fransi’s profits were up 12 percent to SR875 million ($233 million) during the first quarter of 2022
PIF-owned digital security firm Elm Co. recorded a 48 percent surge in quarterly profits to SR250 million
Dr. Sulaiman Al Habib Medical Services Group’s board proposed dividends of SR0.83 per share for the first quarter, after posting a 22 percent profit rise to SR390 million
Fitaihi Holding Group received its shareholders’ approval to not distribute cash dividends for the second half of 2021
Shareholders of Tabuk Cement Co. approved the board’s proposal to pay cash dividends of SR0.25 per share for 2021
Thoub Al-Aseel’s profits increased by 36 percent to SR19 million in the first quarter of 2022 compared to the same period a year ago
The board of Saudi fast-food chain Herfy proposed a dividend freeze for 2021
Astra Industrial Group’s shareholders approved a dividend payout recommendation of SR1.5 per share for 2021
The board of directors of Alwasail Industrial Co. recommended distributing a cash dividend of SR0.50 per share for 2021
Calendar
May 11, 2022
Start of Arabian Food & Dairy Factories Co.’s IPO book-building
May 15, 2022
Saudi Aramco will disclose its financial results for the first quarter of 2022
End of Arabian Food & Dairy Factories Co.’s IPO book-building
May 22, 2022
Start of Amwaj International Co.’s IPO book-building
May 25, 2022
End of Amwaj International Co.’s IPO book-building
IMF expects Saudi economy to grow more than double in 2022Banque Saudi Fransi reports 12% profit increase for Q1
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