RIYADH: Last week, Saudi Arabia’s main stock index TASI wrapped up ten straight days of gains amid heightened investor sentiment. Earnings season is starting to get into full swing for the Kingdom’s listed companies.
In the latest session, TASI gained 0.3 percent to reach 12,291 points, while the parallel market Nomu slipped 0.3 percent to close at 26,071 points.
Other GCC members saw fractional declines on Thursday, including main indexes of Qatar, Oman, Bahrain, and Kuwait, all down in the range of 0.1 to 0.8 percent.
Elsewhere in the Middle East, the Egyptian index EGX30 edged up by 0.1 percent.
Dubai’s DFMGI index and Abu Dhabi’s FTSE ADX General index were both up on Friday by 1.3 and 0.3 percent, respectively.
In energy trading, oil prices snapped the seven-year high as higher inventories of US crude and fuel prompted profit-taking.
Brent crude oil reached $87.9 per barrel on Friday, and US benchmark WTI crude oil settled at $85 per barrel.
- Saudi dairy giant Almarai recorded a 21 percent decline in profit in 2021 as pandemic and value-added tax, VAT, weighed on revenues
- The Saudi Real Estate Co., known as Alakaria, has secured a bridge loan of SR400 million ($107 million) to finance part of the price of the land it’s purchasing in the east of Riyadh
- East Pipes Integrated Co.’s initial public offering was 71.8 times oversubscribed. The final offer price has been set at SR80 per share
- Arabian Centres Co. said in a bourse filing that its board of directors accepted the resignation of the CEO Faisal Abdullah Al-Jedaie, effective Jan. 31, 2022
- Digital security firm Elm Co. set its initial public offering price range between SR113 and SR128 per share. The book-building period will start today Jan. 23 and end on Jan. 28
- Saudi Basic Industries Corp., also known as SABIC, has begun operations of its petrochemical joint venture with US ExxonMobil on the US Gulf coast
- Tadawul approved the listing of SR2.83 billion ($755 million) worth of government debt instruments, submitted by the Ministry of Finance
- Saudia Dairy and Foodstuff Co., or SADAFCO, reported a 28.6 percent decline in profit during the nine months ending Dec. 31, 2021. Profits dropped to SR146 million
- Saudi food firm Wafrah for Industry and Developments has appointed Khaled Saleh Al Amoudi as CEO on Thursday
- Dammam-based Gas Arabian Services will start offering 790,000 shares in an IPO on the parallel market Nomu on Sunday, Jan. 23
Jan. 23, 2022
- Start of Elm Co.’s IPO book-building
- Start of Gas Arabian Services’ initial public offering subscription
Jan. 24, 2022
- Start of East Pipes Integrated Co.’s initial public offering subscription
Jan. 25, 2022
- End of East Pipes Integrated Co.’s initial public offering subscription
- Saudia Dairy and Foodstuff Co., SADAFCO, to pay cash dividends at SR3 per share for the first half of its fiscal year
Jan. 27, 2022
- End of Gas Arabian Services’ initial public offering subscription
- End of Scientific and Medical Equipment House’s IPO book-building
Jan. 28, 2022
- End of Elm Co.’s IPO book-building