Saudi Arabia: Saudi Arabia’s stock market ended the previous week on a high note as its first-half earnings season came to an end.

The main benchmark index TASI surged 1.2 percent to finish at 12,591 on Thursday, while the parallel Nomu market settled flat at 21,631.

Dubai’s bourse advanced 1.2 percent, followed by Abu Dhabi and Qatar with a 0.2 and 0.7 percent gain, respectively.

The Bahraini bourse was flat at the session’s close, while Oman and Kuwait edged slightly lower.

Outside the Gulf, the Egyptian blue-chip index soared 1.8 percent.

Brent crude rebounded to exit the week at $100.99 a barrel, as investors eyed potential OPEC+ output cuts. US West Texas Intermediate also settled higher at $93.06 a barrel.

Stock news

Saudi National Bank announced the commencement of its additional riyal-denominated sukuk offering on Aug. 28

Abdulmohsen Alhokair Group for Tourism and Development managed to cut down its losses by 49 percent during the first half of 2022

Maharah Human Resources’ unit received the General Authority of Competition’s nod to proceed with acquiring a stake in Care Shield Holding Co.

Jabal Omar Development Co.’s shareholders approved a 24 percent capital increase to SR11.5 billion ($3 billion)

Academy of Learning Co. will payout a cash dividend of SR1.5 per share to its shareholders for the first half of 2022

Anaam International Holding Group will be suspended from trading on Sunday due to its failure to announce its financial results in the period specified by the Saudi Exchange

Calendar

August 28, 2022

Start of Saudi National Bank’s riyal-denominated sukuk offering

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