RIYADH: ¶¶Òõ¶ÌÊÓƵ’s stock market recovered slightly on Sunday after hitting its lowest level in more than six months on Thursday.
The main index TASI advanced 1.2 percent to 11,292, rising from 11,163 points in the prior session, while the parallel Nomu market was up 0.2 percent to 20,611.
The improved performance was supported by Friday’s oil gains in response to reports that an immediate Saudi oil output boost was not expected.
Elsewhere in the Middle East, stock exchanges of Qatar, Kuwait, and Egypt added between 0.1 and 0.9 percent.
The Bahraini index ended 0.3 percent lower, while Oman’s bourse was almost flat.
In energy trading, Brent crude extended gains to $102.6 a barrel, and US benchmark West Texas Intermediate rose to $98.75 a barrel by 9:21 a.m. Saudi time on Monday.
Stock news
United Electronics Co., known as eXtra, recorded a 24 percent profit increase to SR225 million ($59.93 million) for the first half of 2022
Maharah Human Resources Co.’s unit Growth Avenue Investment Co. extended the memorandum of understanding to fully acquire Care Shield Holding Co. until Aug. 1
Methanol Chemicals Co.’s profit surged 116 percent to SR195 million in the first half of 2022 on the back of higher sales
Naseej for Technology Co. closed a SR14.5 million deal to implement a project in the field of e-education with the National eLearning Center
Naba Alsaha Medical Services Co. said it intends to proceed with an initial public offering of a 20-percent stake on ¶¶Òõ¶ÌÊÓƵ’s parallel Nomu market
Calendar
July 18, 2022
Academy of Learning Co. to start trading on Nomu
July 21, 2022
End of Naqi Water’s IPO book-building
