RIYADH: Saudi stocks closed Monday almost flat on concerns and doubts raised by Russia’s invasion of Ukraine, which put global affairs back on investors’ minds.

At the closing bell, the main index, TASI, edged up 0.3 percent to reach 12,808, while the parallel market declined 0.50 percent to 24,628.

In a record high month for oil prices, Brent crude climbed to $125.34 per barrel while US WTI crude reached $122.99 per barrel, as of 3:30 p.m. Saudi time.


ACWA POWER Co. led the gainers with a gain of 7.24 percent, while Saudi Reinsurance Co. led the fallers with a drop of 4.47 percent.

YANBU Cement Co. tumbled 1.02 percent, as its profit dropped by 43 percent to SR159 million ($42.4 million) in 2021.

In the financial sector, Alinma Bank’s share price fell 3.93 percent, and Al Rajhi Bank’s share price dropped 1.41 percent.

Saudi Airlines Catering Co. fell 1.17 percent, after signing a SR85 million deal to provide catering services for Saudi airports’ Altanfeethi terminals.

The shares of Saudi Aramco, the largest player on the Saudi oil market, rose 0.45 percent.



TASI almost flat as investors struggle with war and oil prices soar: Closing bell
Source: Viral Real Articles