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Arab News, Thursday, Aug 25, 2022 | Muharram 26, 1444

Here’s what you need to know before Tadawul trading on Thursday

Saudi Arabia: Saudi Arabia’s stock market rebounded on Wednesday, tracking a recovery in oil prices as they surpassed $100 a barrel.

TASI edged 0.2 percent higher to 12,443, while the parallel Nomu market added 0.3 percent to end at 21,633.

Likewise, the stock exchanges of Qatar and Dubai advanced by 0.4 and 0.9 percent, respectively.

Abu Dhabi, Oman, and Kuwait finished lower, while the Bahraini index closed almost flat.

The rebound in the oil market came on the back of hopes that OPEC could consider supply cuts to support prices amid fears over a global economic slowdown.

Brent crude rose to $101.97 a barrel, while US West Texas Intermediate traded higher at $95.38 a barrel as of 9:01 a.m. Riyadh time on Thursday.

Stock news

Kingdom Holding Co. saw its profits skyrocket by 1,162 percent to SR6.35 billion ($1.7 billion) in the first half of 2022

Al Moammar Information Systems Co.'s profits for the first half of 2022 slightly dropped by 6 percent to SR21 million

Alandalus property Co. declared an interim cash dividend of SR0.25 per share for the first half of 2022

Al Gassim Investment Holding Co.'s losses widened by 147 percent to SR782,647 during the first half of 2022

Raydan Food Co.’s accumulated losses reached 53.2 percent of capital, representing SR337 million, by June end. In the first half of 2022, its losses widened by 62 percent to SR22 million

Al-Babtain Power and Telecommunication Co. posted lower profits of SR20 million, despite a rise in revenues in the first half of 2022

PIF-owned Elm Co. was awarded an SR58 million contract from the Ministry of Interior

The Saudi stock exchange approved the listing of SR3.09 billion worth of government debt instruments submitted by the Ministry of Finance

National Building and Marketing Co. reported a 27 percent profit jump to SR31.8 million for the first half of 2022

Scientific & Medical Equipment House Co. posted a 31 percent drop in its first-half profit to SR16.4 million

Tabuk Agricultural Development Co.’s losses deepened by 10 percent to SR28 million in the first half of 2022

Fitaihi Holding Group saw its net profit drop by 86 percent to SR21 million during the first half of 2022

Calendar

August 25, 2022

End of the earnings season for the second quarter of 2022

September 11, 2022

Start of Arabian Plastic Industrial Co.’s IPO book-building

September 13, 2022

End of Arabian Plastic Industrial Co.’s IPO book-building

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