Oil Updates – prices ease on possible Gaza ceasefire, dollar strength

Oil Updates – prices ease on possible Gaza ceasefire, dollar strength
Oil Updates – prices ease on possible Gaza ceasefire, dollar strength

Thank you for reading the news about Oil Updates – prices ease on possible Gaza ceasefire, dollar strength and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 96.32 points, or 0.76 percent, to close at 12,835.65.

The total trading turnover of the benchmark index was SR9.02 billion ($2.4 billion) as 82 stocks advanced, while 139 retreated. 

The Kingdom’s parallel market, Nomu, also rose 133.32 points, or 0.49 percent, to close at 27,362.29. This comes as 39 stocks advanced, while as many as 20 retreated.

Meanwhile, the MSCI Tadawul Index slipped 17.84 points, or 1.12 percent, to close at 1,617.17.

The best-performing stock of the day was Saudi Steel Pipe Co. The company’s share price surged 9.89 percent to SR78.90.

Other top performers included Saudi Cable Co. as well as CHUBB Arabia Cooperative Insurance Co.

The worst performer was Saudi Printing and Packaging Co. whose share price dropped by 6.56 percent to SR16.82.

Saudi Chemical Co. and Malath Cooperative Insurance Co. did not perform well.

On the announcements front, Aljazira Takaful Taawuni Co. announced its annual consolidated financial result for the period ending Dec.31.

According to a Tadawul statement, the entity’s net profit hit SR44.25 million during the period, up 14.88 percent in comparison to 2022 figures.

The drop was mainly attributed to an increase in insurance revenue, a surge in insurance service results, a jump in net investment result after deducting the finance income, and a climb in total comprehensive income.

Moreover, Arabia Insurance Cooperative Co. also announced its annual financial results for 2023.

A bourse filing revealed that the firm’s net profit reached SR60.46 million in the period ending Dec.31, reflecting an 875 percent surge from the corresponding period a year earlier. 

The rise in profits was primarily owed to the increase in net insurance service results by around SR53 million resulted by the increase in revenues of medical insurance segment in addition to the increase in net investment and other income.

Meanwhile, Waja Co. has announced the signing of a contract worth SR49.45 million for the technical framework subscription project for the supply and installation of various office furniture and external equipment for the Ministry of Finance facilities.

The three-year contract is expected to bring about a positive financial impact on the company’s revenues.

These were the details of the news Oil Updates – prices ease on possible Gaza ceasefire, dollar strength 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 China’s factory activity expands at fastest clip in 13 months, Caixin PMI shows

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]