Arab News, Sunday, Jan 16, 2022 | Jamada Al-Aakhirah 13, 1443
All you need to know to get ready for the trading week on Tadawul
Saudi Arabia:
Last week, Saudi Arabia’s stock market wrapped up
a positive trading week amid heightened investor sentiment, with the main index,
TASI, trading above the 12,000 level for the first time in over 15 years.
At the latest session’s closing bell, TASI extended
4-day gains, up 1 percent to 12,079 points, and Nomu,
the parallel market, edged up to 26,263 points.
Tadawul’s gains were in line with fellow GCC
bourses, led by Kuwait’s BKP which was up 1.5 percent, and the Qatari index QSI,
up 1.3 percent.
Abu Dhabi’s FTSE
ADX General Index rose 0.7 percent, and Dubai’s DFMGI edged
up by 0.2 percent. Stock indexes of Bahrain and Oman added 0.6 and 0.2 percent,
respectively.
Elsewhere in the Middle East, the Egyptian index EGX30 saw
marginal losses standing at 0.4 percent.
In energy trading, oil prices went up on Friday. Brent crude
rose to $86 per barrel and US WTI crude
oil reached $83.8 per barrel.
Stock news
Allied Cooperative Insurance Group’s rights
issue trading was around 89 percent covered, the rump offering will start on
Jan. 18
Saudi developer Knowledge Economic City has
awarded a SR48.9 million ($13 million) construction contract to set up a bus
station for its Madinah Gate Development
BinDawood Holding Co.’s board approved to
establish a fully owned subsidiary for solutions and technical projects that
will help capitalize on investments, with a capital of SR5 million
AXA Cooperative Insurance Co. appointed Khalid
Abdulaziz Alshuwaier as chief executive officer effective today
International Co. for Water and Power Projects
has changed its name to ACWA Power Co.