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FinancialNews


  • 02-08-22

    TASI closes Monday’s session higher due to rising crude oil prices

    (MENAFN) Saudi Arabia’s benchmark index closed with increases in its initial trading session in August after regaining in July to close the month 5.9 percent higher, reinforced by increasing crude oil costs as well as solid company gains.

    TASI jumped 1.15 percent to stand at 12,338, whereas the similar market, Nomu, closed rising 0.52 percent to 21,502.

    Brent crude exchanged at USD102.04 per barrel, whereas West Texas Intermediate stood at USD96.05, at 3:29 PM Saudi time.

    Saudi National Bank, the Kingdom’s biggest lender, gained 1.58 percent, whereas the Kingdom’s oil giant Aramco finished adding 0.75 percent.

    Saudi United Wire Factories Co., famous as Aslak, climbed 2.91 percent, following its first-half income raised 40 percent to SR42 million (USD11.2 million).

    The Kingdom’s biggest valued bank, Al Rajhi, saw an increase of 0.45 percent, in spite of finishing on Sunday in the negative territory after a 12 percent jump in its net income in 2022.

    MENAFN02082022000045014228ID1104630130

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