Riyadh: Saudi Arabia’s main stock index TASI posted a monthly gain of 5.9% in July after falling for two straight months, driven by higher oil prices.
TASI rose 0.4% in the previous session to close at 12,199 points, while the parallel Nomu market rose 2% to 21,391 points.
That was in line with gains in Middle East stocks on Sunday, with Qatar’s QSI up 1.9%.
Egypt’s blue-chip index rose 1%, followed by Oman, up 0.8%, while the Bahrain Stock Exchange edged down 0.7%.
In energy trades, Brent reached $103.38 a barrel at 9:16 a.m. Saudi time on Monday, while U.S. West Texas Intermediate was trading at $97.62 a barrel.
The kingdom’s gross domestic product grew by 11.8 percent in the second quarter of 2022 at the fastest pace since 2011, driven by growth in the oil sector, according to preliminary estimates by the General Statistics Office.
SABB takaful received approval from Saudi Central Bank to merge with rival insurer Walaa Insurance following a binding agreement between the parties in February last year
Saudi Arabian Bahri, the national shipping company, posted a 134% rise in first-half 2022 profit to 193 million riyals ($51 million)
Bahri announced full redemption of its 3.9 billion riyal-denominated sukuk on July 30
United Wire Factory Co. (Aslak) profits up 40% to 42 million riyals in first half of 2022
Saudi Steel Pipe Company wins SAR 95 million contract to supply oil and gas steel pipes to Tenaris Global Services in Uruguay
Losses at Al-Baha Investment and Development Co. widen 158% to 4.2 million riyals in first half of this year
Unitholders of Alkhabeer REIT to receive cash dividend of 0.125 riyals per share in Q2 2022
Trading house’s Zahrat Al Waha reports profit down 73% to 9.9 million riyals in first half of 2022
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