RIYADH: Saudi Arabia’s benchmark index has started the week higher after a wave of earnings reports boosted investor sentiment.
TASI added 0.15 percent at 12,309, while the parallel market, Nomu, started flat at 21,846, as of 10:08 a.m. Saudi time.
Saudi British Bank added 0.48 percent, while the Kingdom’s oil giant Saudi Aramco started the day with a 0.25 percent decline.
Elm Co. fell 0.61 percent, after it announced a 59 percent surge in profit for the first half of 2022 to SR444 million ($118 million), in addition to a contract award worth SR57 million with the Ministry of Interior.
Leejam Sports Co. sank 8.4 percent to lead the fallers, after announcing it will distribute cash dividends of SR0.37 per share for the second quarter of 2022.
Red Sea International dropped 2.04 percent, after seeing its first-half losses widen to SR67 million, following a revenue drop of 24 percent
Dr. Sulaiman Al Habib Medical Services Group decreased 0.46 percent, despite posting a 22 percent profit rise to SR789 million for the first half of 2022.
Last Friday, oil prices fell to their lowest level since February, with Brent crude settling at $94.92 a barrel and US West Texas Intermediate at $89.01 a barrel.
