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  • 30-06-22

    Saudi Arabian shares grow supported by oil costs surge

    (MENAFN) On Wednesday, Saudi Arabian shares grew, reinforced by a surge in oil costs regardless continuing worries around a possible worldwide collapse.

    The benchmark index TASI witnessed a rise of 0.5 percent to stand at 11,727, whereas the parallel market, Nomu, saw a surge of 1.8 percent to reach 20,728.

    TASI was boosted by a 0.9 percent increase in the famous oil giant Aramco and a 2.9 percent surge in the Kingdom’s largest lender Saudi National Bank.

    Somewhere else in the Gulf, Dubai, Abu Dhabi, as well as Qatar saw a drops of 0.2, 0.4 and 0.5 percent, in that order.

    Apart from the Gulf, the Egyptian blue-chip index EGX30 marginally regained by recording a 0.5 percent gain.

    Brent crude exchanged at USD115.9 per barrel at 9:30 AM Saudi time on Thursday, and US main West Texas Intermediate stood at USD109.74 per barrel.

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