Arab News, Thursday, Dec 23, 2021 | Jumada Al-Uola 17, 1443
Your stock market guide for Dec. 23, 2021
Saudi Arabia: In
the previous trading session, Saudi bourse’s main stock index TASI retreated 0.5
percent to 11,204 points and the parallel market Nomu lost 2.75 percent to close
at 26,409 points, despite five consecutive days of gains.
That said, it is noteworthy that many stocks saw
gains following their year-end dividend distribution announcements, with the
Saudi Investment Bank, or SAIB, topping that list, up 9.11 percent to its
highest closing value in over two years, SR19.16 ($5.1), on higher dividends.
Not only Saudi, but most major GCC stock exchanges
edged down as coronavirus-induced uncertainty lingered.
The UAE’s DFMGI saw
the biggest decline among Gulf bourses, down 0.8 percent, followed by Abu
Dhabi’s index ADI which
dropped 0.8 percent.
Stock indices of Qatar, Bahrain, Oman, and Kuwait
secured gains in the range of 0.3 percent to 0.9 percent.
Apart from the GCC, the Egyptian index EGX30 continued
the upward trend, up 0.9 percent.
As of early morning today, Brent crude
oil was up $0.25, or 0.33 percent, to $75.54 per barrel, while US WTI crude
was up 0.32 percent to $72.99 per barrel.
Stock news:
ACWA power has announced the financial closure
of an $800 million refinancing facility for Rabigh Arabian Water and Electricity
Co.
The Saudi British Bank is to sell its ownership
stake in Wataniya Insurance Co., representing 20 percent of capital, at a value
of SR80 million to the Private Wealth Investment Holding Co.
Banque Saudi Fransi’s board announced the
recommendation to distribute SR0.85 per share for the second half of 2021,
bringing the annual distributed dividend per share to SR1.5. The distribution
date is yet to be disclosed
Saudi Chemical Co.’s board recommended cash
dividends at SR0.5 per share for first nine months of the current year. The
amount is to be distributed on Feb. 3, 2022, according to a filing.
Al Hassan Ghazi Ibrahim Shaker Co. has
submitted an application to the capital market authority for capital reduction
by SR147 million, then increasing capital via a rights issue worth SR249 million
National Building and Marketing Co. has
announced the completion of a SR0.1 million company establishment under the name
of Yuzmash Industry Co. with limited liability