RIYADH: Saudi Arabia’s main stock index, TASI, opened flat on Thursday after a strong four-day performance despite record COVID-19 cases in the Kingdom.
TASI at 10:20 a.m. Saudi time stood at 11,959 points and the parallel market Nomu opened 0.2 percent lower at 26,183.
Early morning gains were driven by the Kingdom’s utility provider ACWA Power which was up 4 percent amid trading of almost 600,000 shares.
However, they were capped by falls in some major players including Al Rajhi Bank, down 0.13 percent.
ACWA Power announced the start of operations at the largest independent water desalination plant, Rabigh Three Co. IWP.
Oil giant Saudi Aramco opened flat. Aramco is to acquire a 30-percent stake in Poland’s largest refiner PKN Orlen, it announced on Wednesday.
The Gulf’s largest miner, Saudi Arabian Mining Co. or Ma’aden added 0.8 percent to SR88.9 ($23.7) as it plans for carbon neutrality by 2050, the firm’s chairman Yasir Al-Rumayyan said at a mining conference on Wednesday.
Saudi Public Transportation Co., or SAPTCO, rose over 4 percent after it was awarded a 5-year public transport project with the Eastern Province Municipality.
In energy trading, Brent crude settled at $84.3 per barrel, and US WTI crude oil reached $82.2 per barrel as of 10:34 a.m. Saudi time.