Saudi Arabia to explore site for 26 million tonnes of minerals

RIYAD: The Saudi Arabian stock exchange had a mixed performance on Monday as its main index, TASI, stagnated amid lingering concerns about the spread of the omicron.

At the closing bell, TASI remained stable at 11,328 points and the parallel market Nomu lost almost 1%, reaching 26,030 points.

The sluggish performance came as some of the major Saudi players suffered losses despite trading in green territory earlier today. Among these were Al Rajhi Bank and Alinma Bank which fell to 143 SR ($ 38) and 24.6 SR, respectively.

Sahara International Petrochemical Co., or Sipchem, fell 3% to SR40.5.

ACWA Power’s share price fell to SR84 after securing a $ 125 million senior refinancing facility for its subsidiary Rabigh Arabian Water and Electricity Co., known as RAWEC.

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Albilad Bank reached its highest value in over 15 years. Stock rose nearly 5% to SR50, after registering the highest gains in today’s session.

Sadr Logistics shares fell for the fourth day in a row, hitting SR83 with losses amounting to nearly 10%.

The National Co. for Glass Industries, known as Zoujaj, saw its stock price drop by 5%. Earlier today, the company’s board of directors recommended SR 16.5 million in cash dividends – SR 0.5 per share – for fiscal 2021.

AME Co. for Medical Equipment, based in Jeddah, today announced that its application to list its shares on Nomu has been approved by the Capital Markets Authority.

In energy trading, Brent crude oil rose 0.53 cent to $ 78.31 per barrel while U.S. WTI crude rose 0.33 cent to $ 75.54 per barrel at 3:36 p.m. , Saudi time.