Arab News, Monday, Aug 15, 2022 | Muharram 17, 1444
Here’s what you need to know before Tadawul trading on Monday
Saudi Arabia: Saudi stocks closed
slightly lower on Sunday, tracking oil’s Friday drop.
TASI slipped 0.13 percent to 12,514, with shares
of oil giant Aramco down 0.9 percent after reporting a record second-quarter
profit of SR182 billion ($48.4 billion).
Aramco’s profit soared 80 percent in the second
quarter of 2022 from SR95.5 billion a year earlier, beating the median of
analysts’ forecasts with the highest quarterly profit since going public in
2019.
The Kingdom’s parallel Nomu market finished 0.08
percent higher at 22,041.
Elsewhere, Oman, Qatar, and Bahrain advanced 0.1,
0.4, and 0.8 percent, respectively, while the Kuwaiti index lost 0.7 percent.
Outside the Gulf, the Egyptian index EGX30 ended
the session flat.
Oil prices continued to drop on Monday. Brent
crude fell to $97 a barrel and US West Texas Intermediate reached $91.03 a
barrel by 8:57 a.m. Riyadh time.
Stock news
Red Sea International Co. said its accumulated
losses have dropped to zero, following an SR298 million capital reduction
Basic Chemical Industries Co. recorded a 63
percent profit increase to SR46 million for the first half of 2022
Solutions by stc’s acquisition of a controlling
stake in Egypt’s Giza Systems has been approved by the Saudi competition
authority
Al Hassan Ghazi Ibrahim Shaker Co. achieved a net
profit of SR26 million in the first half of 2022, a 72 percent increase from the
first half of last year
Lazurde Co. for Jewelry reported a 22 percent
profit rise in the first half of 2022 to SR22.2 million
Saudi Printing and Packaging Co.’s losses narrowed
by 91.8 percent to SR2 million during the first half of 2022
Halwani Bros Co. reported a first-half profit
decline of 65 percent to SR18 million
Middle East Paper Co.’s board proposed a 33
percent capital raise to SR666 million to support the company’s financial
position and growth plans
Watani Iron Steel Co. saw its profit drop 15
percent to SR25 million during the first half of 2022
Calendar
August 15, 2022
Naqi Water Co. will start trading its shares on
TASI