RIYADH: Saudi Arabia’s main stock index, TASI, was up on Wednesday to its highest close since 2006, continuing its rally from last week amid heightened investor sentiment.
TASI edged 0.5 percent higher to 12,260 points, and the parallel Nomu market added 0.4 percent to reach 26,158 points.
In line with Saudi Arabia, most GCC indexes closed higher on Wednesday, with Abu Dhabi’s FTSE ADX General index outperforming, up 1.6 percent.
Muscat Stock Exchange’s MSX30 rose 0.8 percent, followed by Bahrain’s BAX and Qatar’s QSI which were up in the range of 0.2 and 0.3 percent.
Bourses of Dubai and Kuwait were down 0.3 and 0.1 percent, respectively.
Elsewhere in the Middle East, the Egyptian index EGX30 dropped 1.4 percent.
In energy trading, Brent crude rose in early morning to its highest level in seven years, reaching $88.5 per barrel, and US WTI crude oil went up to $87.3 per barrel as of 8:48 a.m. Saudi time.
Stock news
- Yanbu National Petrochemical Co., known as Yansab, reported a 126 jump in net profit in the fiscal year 2021, due to higher product selling prices
- Amlak responded to a plaintiff who alleged it faces damages regarding a residential tower project, saying it did not not breach its contractual obligations
Calendar
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 year