RIYADH: Saudi Arabia’s main index partially reversed gains to close lower in the previous trading session as concerns over an economic slowdown rattled investors.
At Thursday’s closing bell, TASI fell 0.5 percent to 12,530, while the parallel market Nomu added 1.14 percent to 22,272.
Stock exchanges of Qatar, Egypt, and Oman edged lower, while those of Bahrain and Kuwait gained 0.3 and 0.5 percent, respectively.
Dubai’s DFMGI was flat on Friday, after adding 1.2 percent in the prior session, whereas the Abu Dhabi index rebounded with a gain of 1.5 percent.
Oil prices rose on Friday, with Brent crude exiting the week at $119.43 and US West Texas Intermediate settling at $115.07.
Stock News
Zain KSA received approval from the Communications and Information Technology Commission’s board for Zain Business Ltd to acquire 8,069 of its telecom tower sites
Al Moammar Information Systems Co. signed a contract valued at nearly SR80 million ($21.3 million) for the maintenance of medical devices and equipment at a hospital in Makkah
Middle East Healthcare Co., also known as Saudi German Health, will invest SR70 million in Jeddah’s Sobhi Abdel Jalil Batterjee Medical Hospital
Saudi Automotive Services Co. sealed a deal to sell and leaseback ten owned sites valued at SR400 million to Al-Jazira Capital
East Pipes Integrated Co. for Industry swung into losses of SR3.25 million last year, from SR148 million in profit a year earlier
Calendar
May 30, 2022
Close of Anaam International Holding Group’s rights trading
May 31, 2022
End of Retal Urban Development Co.’s IPO book-building
June 2, 2022
Close of Anaam International Holding Group’s new shares subscription