Arab News, Monday, Jan 10, 2022 | Jamada Al-Aakhirah 7, 1443
Factors to watch for before trading on January 10
Saudi Arabia:
The Kingdom's stock exchange made a positive start
to the trading week on Sunday despite a surge in coronavirus cases globally.
The Saudi Health Ministry recorded 3,460 newly
confirmed COVID-19 cases on the same day.
TASI,
the main index, closed 1.14 percent higher at 11,560 points, while the parallel Nomu market
added 0.8 percent to reach 25,831 points.
In line with Saudi Arabia, all GCC bourses
operating a Sunday-Monday workweek saw gains in the prior session.
Kuwait’s BKP and
Oman’s MSX30 rose
by 0.7 percent, followed by the Qatari index QSI and
Bahrain’s main index BAX,
up o.4 and 0.3 percent, respectively.
Elsewhere in the Middle East, the Egyptian index
edged down 0.5 percent.
In energy trading, Brent crude
rose to near $82 per barrel, while US WTI crude
oil reached $79.1 per barrel as of 8:29 a.m. Saudi time.
Stock news
The Saudi Investment Bank’s, or SAIB, request to
increase capital to SR10 billion through rights issue has been approved by the
Capital Market Authority
United Electronics Co., known as extra, recorded a
42 percent profit jump in 2021 from a year earlier, reaching SR397 million – the
highest in the company’s history
Arabia Insurance Cooperative Co. has received a
letter approving the extension of SAMA’s approval of the capital increase by
SR265 million for six months from Jan. 9
Amana Cooperative Insurance Co.’s shareholders
approved a merger with Saudi Enaya Cooperative Insurance as well as a capital
increase request to SR289 million, however shareholders of the latter rejected
the terms of the merger in a separate statement
Walaa Cooperative Insurance Co. extended its
previous merger MoU with SABB Takaful until Feb. 22 this year, to finalize due
diligence activities
Rabigh Refining and Petrochemical Co. submitted a
file to the Capital Market Authority aiming to decrease capital by SR1.21
billion and then increase capital by SR7.95 billion via rights issue
Albilad Capital announced the completion of
rebalancing the Sukuk basket for Albilad Saudi Sovereign Sukuk ETF on Jan. 9<