Oil Updates — Crude edged down; Russian shelling causes oil leak in Ukrainian facility; Iran, Venezuela sign cooperation plan

Oil Updates — Crude edged down; Russian shelling causes oil leak in Ukrainian facility; Iran, Venezuela sign cooperation plan
Oil Updates — Crude edged down; Russian shelling causes oil leak in Ukrainian facility; Iran, Venezuela sign cooperation plan

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s stock market ended the previous trading week slightly lower on Thursday, weighed down by spillover from global peers.

The main TASI index nudged 0.1 percent higher at 12,603, while the parallel market Nomu added 0.2 percent to 22,240.

Bahrain’s BAX ended flat, while stock exchanges in the UAE and Kuwait edged down.

Qatar added 1 percent to top the gainers in the Gulf, and the Omani index closed 0.1 percent higher.

Elsewhere in the Middle East, Egypt’s blue-chip index EGX30 was flat.

On Friday, Abu Dhabi extended losses by 0.2 percent, while was slightly up by 0.1 percent.

Oil prices fell as China imposed new COVID-19 lockdown measures. Brent crude settled at $122.01 a barrel and US West Texas Intermediate reached $120.67 a barrel.

Stock news

The board of Saudi Telecom Co., better known as stc, recommended a capital increase of 150 percent to SR50 billion ($13.3 billion)

PIF-owned ACWA Power Co. announced the start of operations at Abu Dhabi’s Taweelah $874 million water desalination plant, known as Al Taweelah IWP

Al-Baha Investment and Development Co. secured a Shariah-compliant loan worth SR65 million

Al Moammar Information Systems Co. was awarded a SR169 million project from the Saudi data and intelligence authority

Taiba Investments Co. purchased a commercial center in Riyadh for SR220 million  

The Saudi National Bank announced the resignation of Sheila Othayeb Alrowaily as a board member

Keir International Co. set its price guidance at SR34 per share as it plans a direct listing on Saudi Arabia’s parallel market

Alkhorayef Water and Power Technologies Co. obtained SR257 million in financing to fund projects

Calendar

June 12, 2022

Arabian Food & Dairy Factories Co., known as Fadeco, will start trading its shares on Saudi Arabia’s stock market

June 14, 2022

Start of Rabigh Refining and Petrochemical Co.’s, or Petro Rabigh, subscription to new shares and rights trading

June 21, 2022

Rabigh Refining and Petrochemical Co.’s rights trading ends

June 26, 2022

Rabigh Refining and Petrochemical Co.’s subscription to new shares ends

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