RIYADH: Saudi Arabia’s main stock index was up for the eighth consecutive day on Tuesday as benchmark oil prices surged to record 7-year highs.
TASI edged up 0.2 percent to close at 12,194 points, whereas the parallel Nomu market was down 0.5 percent to 26,058 points.
In the GCC region, Qatar’s QSI and Abu Dhabi’s FTSE ADX General index led the gains, both up 0.8 percent, followed by TASI.
Bourses of Dubai, Bahrain, and Kuwait edged down, while Oman’s MSX30 ended flat.
Elsewhere in the Middle East, the Egyptian index EGX30 closed 0.1 percent higher.
In energy trading, Brent crude jumped in early morning to its highest level in seven years, reaching $88.4, and US WTI crude oil traded at $86.5 per barrel as of 8:43 a.m. Saudi time.
Stock news
United Wire Factories Co. reported estimated 2021 profits at SR46 million ($12.3 million), down 26 percent from a year earlier
Red Sea International Co. has signed a SR60.5 million deal with The Red Sea Development Co., TRSDC, to design, manufacture, supply, and install three complexes in the Saudi Western region
Yamama Cement Co. is to sell its sixth production line which produces a capacity of 3,000 tons of clinker per day
Saudi oil giant Aramco signed one agreement and nine MoUs with leading Korean entities to advance its downstream strategy and support development of low-carbon energy solutions, while creating new financing options for the company
Calendar
Jan. 19, 2022
Allied Cooperative Insurance Group’s rump offering ends
Jan. 20, 2022
National Co. for Learning and Education will start paying out dividends of SR0.8 per share for the fiscal year ended Aug. 31, 2021
Jan. 25, 2022
Saudia Dairy and Foodstuff Co., SADAFCO, to pay cash dividends at SR3 per share for the first half of its fiscal y