RIYADH: Saudi stocks started the trading week up slightly on Sunday, with oil trading at multi-year highs.

At the closing bell, the main index, TASI, gained 0.38% to 12,804, while the parallel market slipped 0.06% to 24,752.

Despite the Russian-Ukrainian conflict which shook the world markets, the stock markets of Bahrain and Oman rose in line with the Saudi index.

Elsewhere, Kuwait’s BKP and Egypt’s EGX30 index lost 0.2% and 1.8% respectively.

Stock markets in the United Arab Emirates fell slightly on Friday, with the Abu Dhabi index falling 0.6% and Dubai’s DFMGI 0.9%.

In energy trading, oil prices extended their rally on rising supply chain concerns.

Brent crude jumped nearly 10% to $129.63 a barrel in Monday morning trading and U.S. benchmark WTI gained 8.7% to $125.78.

Stock market news

Arabian Contracting Services Co. Board of Directors has proposed distribution of SR1.86 ($0.5) per share as dividends for 2021

Jadwa Investment Co. will distribute cash dividends of SR 0.2 per share to unitholders of Jadwa REIT Saudi Fund for the fourth quarter of 2021

Saudi Vitrified Clay Pipes Co. reported losses of SR 2.1 million in 2021 due to 28% drop in sales

Al Rajhi Co. for Cooperative Insurance recorded a 54% drop in profit before Zakat to SR 115 million in 2021

Riyadh Bank saw its annual profit jump 28% to SR6.03 billion in 2021

Saudi Airlines Catering Co. has reached an SR85 million deal to provide catering and hospitality services at Altanfeethi terminals at Saudi airports

Yanbu Cement Co. saw a 43% drop in profit to SR159 million in 2021 as lower selling prices weighed on sales

Saudi Arabia’s Aseer Co. secured Shariah-compliant financing worth SR200 million from Al Rajhi Bank to fund working capital requirements

Etihad Atheeb Telecommunication Co. Appoints Faisal Qamhiyah as Board Member to Replace Mohamed Alkhalifa

Calendar

March 7, 2022

Completion of Nahdi Medical Co IPO.

March 9, 2022

Al Masane Al Kobra Mining Co., or AMAK, to Launch IPO Retail Subscription