RIYADH: Saudi Arabia’s stock market advanced for a second straight day on Monday in line with soaring oil prices.
TASI gained 1.72 percent to close at 12,907 while the parallel market Nomu added 1.8 percent to 22,808.
Most stock exchanges in the Gulf Cooperation Council advanced, with Abu Dhabi and Dubai rising 2.3 and 1.5 percent, respectively.
Qatar, Bahrain, Kuwait, and Bahrain all added between 0.1 and 0.6 percent.
Elsewhere in the Middle East, Egypt’s EGX30 edged up by 0.2 percent.
In energy trading, oil prices crossed $120 for the first time in two months on hopes that the EU is nearing an agreement to ban Russian oil imports.
Brent crude extended gains to $123.87 a barrel on Tuesday, and US WTI crude reached $119.05 a barrel as of 9:19 a.m. Saudi time.
Stock news
Shareholders of Saudi Arabian Mining Co. approved a plan to hike capital to SR24.6 billion ($6.6 billion) in addition to the board’s proposal to freeze dividends for 2021
Saudi Fransi Capital said unitholders of Bonyan REIT Fund will receive dividends of SR53.7 million in total for the six-month period ended Apr. 30, 2022
Ladun Investment Co.’s initial public offering price has been set at SR18 per share after the offering was 21 times covered
Wataniya Insurance Co.’s major shareholder, E.A. Juffali & Brothers, has increased its ownership to 8.63 percent by buying 1.45 million additional shares for SR24.7 million
Obeikan Glass Co. received shareholder approval for SR1 dividends per share distributed for 2021
Calendar
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
June 6, 2022
End of Saudi Real Estate Co.’s rights trading
June 9, 2022
Close of Saudi Real Estate Co.’s new shares subscription