Airbus will manufacture the world’s first zero-emission aircraft by 2035

RIYADH: Shares in Saudi Arabia extended losses for another day on Wednesday as oil prices continued to fall.

The main TASI index fell 1% to 13,379 after hitting its highest level since 2006 on Monday, while the parallel market, Nomu, fell 1.8% to 22,674.

In line with the Saudi index, stock exchanges in Abu Dhabi, Dubai and Kuwait lost between 1.2 and 2.1%.

However, exchanges in Qatar, Bahrain, Oman and Egypt edged higher, led by a 1.2% gain for Bahrain’s BAX.

In energy trading, Brent crude futures fell $1.25, or 1.2%, to $106.26 a barrel as of 8:00 a.m. KSA. West Texas Intermediate crude futures fell $1.24, or 1.2%, to $104.47 a barrel.

Stock market news

Chemicals giant Saudi Basic Industries Corp., better known as SABIC, posted a 33% increase in first-quarter profits, boosted by a 40% growth in sales to SR53 billion (14 billions of dollars)

Saudi Airlines Catering Co. went from loss to profit of SR35 million in the first quarter

The owner of food chain Herfy reported a 12% increase in first-quarter profits due to a 5.5% increase in sales.

Al-Dawaa Medical Services Co. reported a 10% increase in quarterly profit to SR87 million

Takween Advanced Industries Co. reported losses of almost SR 9 million in the first quarter of this year, even as revenues increased

Profits of United Wire Factories, known as Aslak, rose 61% in the first quarter to SR 26 million on higher sales

Jarir Marketing Co. has completed the sale of a building in Al Khobar for a value of SR 178 million

Naseej International Trading Co. got approval from Capital Market Authority to reduce capital from SR 212 million to SR 109 million

Schedule

May 15, 2022

Saudi Aramco to Release First Quarter 2022 Financial Results

End of the IPO of Arabian Food & Dairy Factories Co.

May 22, 2022

Beginning of the IPO of Amwaj International Co.

May 25, 2022

End of Amwaj International Co.’s IPO.

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