Here’s what you need to know before Tadawul trading on Sunday


RIYADH: Saudi stocks slid last week in line with most Gulf peers, threatened by fears over a global economic slowdown and fluctuating oil prices.

The Kingdom’s main index TASI lost 1.2 percent to exit the week at 12,142 on Thursday, while the parallel Nomu market retreated 1.4 percent to 21,326.

Qatar and Abu Dhabi slipped 1.8 percent and 1.6 percent, respectively, followed by Dubai and Kuwait with a 0.8 percent drop each.

Stock exchanges of Bahrain and Oman bucked the trend, adding 0.2 percent and 0.4 percent, respectively.

Elsewhere in the Middle East, Egypt’s EGX30 finished 0.6 percent lower.

Oil prices rebounded on hopes that the next OPEC+ meeting on Sept. 5 will consider output cuts.

Brent crude futures gained 0.7 percent on Friday to settle at $93.2 a barrel, and US West Texas Intermediate also exited the week higher at $86.87 a barrel.

Stock news

Arabian Contracting Services Co.’s board proposed a SR1.9 ($0.8) dividend per share for the first half of 2022

Albabtain Food, formally known as Abdulaziz & Mansour Ibrahim Albabtain Co., said it intends to offer a 16 percent stake on Saudi Exchange’s parallel market

Amana Cooperative Insurance Co. and Allied Cooperative Insurance Group signed a memorandum of understanding to potentially merge both companies


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