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FinancialNews


  • 08-09-22

    TASI closes Wednesday’s session under 12,000 points amid recession worries

    (MENAFN) Saudi Arabia’s benchmark index closed Wednesday’s session with lower figures to finish under the 12000-point rate, following a nonstop decrease in oil costs as recession fears grows.

    TASI fell 1.09 percent to finish at 11,863, whereas the similar market Nomu dropped 1.55 percent to close at 20,528.

    Saudi oil giant Aramco declined 0.67 percent, whereas Rabigh Refining and Petrochemical Co. plummeted 1.72 percent.

    The Saudi National Bank, the nation’s largest lender, witnessed its stake price fall by 0.15 percent.

    Al Rajhi, the nation’s biggest valued bank, decreased 0.81 percent, whereas Alinma Bank fell 1.10 percent.

    ACWA POWER Co. earned 4.23 percent to top the earners, trailed by Aldrees Petroleum and Transport Services Co. which added 2.71 percent.

    Salama Cooperative Insurance Co. lost 8.59 percent to top the decliners, trailed by CHUBB Arabia Cooperative Insurance Co. with a 6 percent fall.

    In energy exchange, Brent crude futures dropped to USD92.21 per barrel, whereas US West Texas Intermediate exchanged at $86.41 per barrel, at 3:23 PM Saudi time.

    MENAFN08092022000045014228ID1104830759

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