RIYADH: The Saudi main index ticked up on Thursday, but September still marked a dismal month for the stock exchange, marked by persistent inflation, unstable gas prices, and aggressive Fed hikes.
The Tadawul All Share Index ended September dropping 7 percent over the course of the month to reach 12,283 at the closing bell of Thursday’s session.
This is despite closing the last session of September in green, with a 2.11 percent gain.
Other Gulf markets also ended Thursday’s session in green. The Qatari index closed 1.2 percent higher while Abu Dhabi’s index added 0.4 percent.
In spite of this, there was a 0.8 percent drop in Dubai’s main share index.
Outside the Gulf, Egypt’s blue-chip index climbed 1.3 percent on Thursday, reversing six straight losses.
Stock news
Nahdi Medical Co. established Al-Sakhaa Integrated Solutions Co., owned by its subsidiaries in Egypt, to support the company’s business and strategy.
The Saudi Paper Manufacturing Co. signed SR166 million ($44 million) agreement with Italian-based Toscotec for a raw tissue paper roll production line.
Tourism Enterprise Co. and SHUAA Capital Saudi Arabia extended their MoU to buy three hotels in Riyadh, Jeddah and Dammam for an additional period starting, Sept. 30, until Nov. 30, 2022.
Tihama Advertising and Public Relations Co. and UK-based WPP plc delayed their agreement to create a Bahrain-based holding group via a merger until Oct. 31, 2022.
Unitholders of Saudi Economic and Development Securities Co. will receive a cash dividend of SR0.18 per unit for the period from July 2 to Sep. 30th 2022.
Retal Urban Development Co.’s shareholders approved a cash dividend of SR2 per share for the first half of 2022.
Al-Baha Investment and Development Co. settled all Zakat claims for the years 2000-2010.