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FinancialNews


  • 15-09-22

    Saudi shares end Wednesday’s session with lower figures due to worries of Fed rate hike

    (MENAFN) Saudi shares dropped throughout the last hours of Wednesday’s session due to worries around an approaching Fed rate hike after a rise in US inflation.

    The Tadawul All Share Index closed the day with a 1.58 percent decrease to 11,893, whereas the similar market Nomu ended with a 0.69 percent loss at 20,851.

    Saudi oil giant Aramco declined 0.54 percent, whereas Rabigh Refining and Petrochemical Co. lost 2.24 percent.

    The nation’s biggest valued bank Al Rajhi dropped 2.21 percent, whereas Alinma Bank was 1.75 percent lower.

    The Saudi National Bank, which is the nation’s biggest lender, fell1.04 percent, whereas Saudi British Bank fell 1.62 percent.

    United Electronics Co., known as eXtra, was 1.34 percent lower, after it summoned its stockholders to vote on a 33 percent capital rise to SR800 million (USD231 million).

    Scientific and Medical Equipment House Co. edged down 0.15 percent, following a signing of SR118 million (nearly USD31.3 million) deal with the Ministry of Education for the operation, maintenance as well as cleaning of the educational health services hub at Najran University.

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