Here’s what you need to know as Tadawul wraps up the trading week

Here’s what you need to know as Tadawul wraps up the trading week
Here’s what you need to know as Tadawul wraps up the trading week

Thank you for reading the news about Here’s what you need to know as Tadawul wraps up the trading week and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi stocks ended Wednesday with a steep decline despite a recent rebound, as the threat of a recession continued to weigh on investor sentiment.

TASI, the main index, approached one of its lowest levels in months again, dropping 2.9 percent to 11,319. The parallel Nomu market also lost 1.1 percent to 20,649.

Stock exchanges in , Qatar, and Abu Dhabi were down 0.9, 1.1, and 1.8 percent, respectively, followed by marginal declines in indexes of Bahrain, Oman, and Kuwait.

Outside the Gulf, Egypt’s index EGX30 erased gains from a day earlier to close 0.8 percent lower.

Oil prices retreated after US President Joe Biden called for a suspension of gas and diesel taxes in response to rising energy prices.

Brent crude reached $110.37 a barrel on Thursday and US West Texas Intermediate traded at $104.58 a barrel at 9:29 a.m. Saudi time.

Stock news

AlSagr Cooperative Insurance Co. was suspended from trading again starting June 23 until it announces its financial statements for the first quarter of 2022

Shareholders of Al Moammar Information Systems Co. approved a capital raise of 20 percent to SR300 million ($80 million) through granting bonus shares

Arabian Centres Co. named Fawaz Al-Hokair chairman and Salman Al-Hokair vice-chairman of the board

Saudi Cable Co. selected Wasatah Capital to advise on the company’s planned capital reduction of 75 percent to SR66.7 million

Basic Chemical Industries Co. appointed Abdullah Al-Moaibed as board chairman and Suleiman Al-Qadi as vice chairman of the board

Saudi Arabian Refineries Co. signed two non-binding agreements with Christof Global Impact for renewable energy projects aimed at reducing carbon emissions

Gulf Union Al Ahlia Cooperative Insurance Co. reported that its accumulated losses have been reduced to 29.63 percent of capital


June 26, 2022

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

June 27, 2022

End of Alamar Foods’ IPO book-building

Retal Urban Development Co. will start trading its shares on TASI

June 28, 2022

End of the Saudi Investment Bank’s Sukuk offering


These were the details of the news Here’s what you need to know as Tadawul wraps up the trading week for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudis reportedly in talks over stake in luxury car manufacturer Aston Martin

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]