[ad_1]
RIYADH: Saudi Arabia’s Tadawul All Share Index misplaced 22.16 factors — or 0.20 p.c — to complete at 11,258.61 on Monday, pushed by falling oil costs and fears the US Federal Reserve may increase rates of interest.
On Monday, Brent crude dropped $1.68, or 2.09 p.c, to $78.65 a barrel at 4:10 p.m. Saudi time, whereas US West Texas Intermediate crude slid $1.78, or 2.32 p.c, to $75.
Reuters reported that the Fed, which meets on Might 2 and three, is predicted to extend rates of interest by one other 25 foundation factors.
Whereas the parallel market Nomu additionally dropped 169.11 factors to shut at 21,162.80, the MSCI Tadawul Index barely gained 0.13 p.c to 1,521.24.
The entire buying and selling turnover of the benchmark index on Monday was SR5.80 billion ($1.55 billion).
Thimar Growth Holding Co. was the highest performer of the day as its share costs went up by 6.45 p.c to SR41.25.
Different prime performers have been BinDawood Holding Co. and Al Hassan Ghazi Ibrahim Shaker Co., whose share costs superior 4.05 p.c and three.79 p.c, respectively.
United Cooperative Assurance Co. was the worst performer, because the agency’s share costs edged down 3.04 p.c to SR8.60.
On the bulletins entrance, SABIC Agri-Vitamins, revealed in a bourse submitting that its web revenue slumped by 61 p.c to SR981 million within the first quarter of 2023 from SR2.51 billion in the identical interval of 2022.
The corporate attributed the autumn in web revenue to a 40 p.c decline within the common promoting costs of the agency’s merchandise.
As the online revenue of SABIC Agri-Vitamins declined, the corporate’s share costs dropped 1.20 p.c to SR131.80.
Saudi Nationwide Financial institution additionally introduced its monetary outcomes for the primary quarter of 2023. The financial institution revealed that its web revenue for the primary quarter jumped 11.5 p.c year-on-year to hit SR5.02 billion. Pushed by the rise in earnings, the financial institution’s share costs edged up 0.51 p.c to SR49.65.
Saudi Funding Financial institution was one other monetary establishment that declared its outcomes, and in a bourse submitting, it introduced a 43 p.c leap in its first quarter web revenue to SR408.9 million, in comparison with SR287 million in the identical interval a 12 months in the past.
Shareholders of Saudi Aramco Base Oil Co., also referred to as Luberef, permitted the board’s advice to pay a money dividend of fifty p.c, or SR5 per share, for the primary half of 2022.
In keeping with a Tadawul assertion, Luberef shareholders additionally permitted authorizing the board of administrators to distribute an interim dividend for 2023 on a semiannual or quarterly foundation.
In the meantime, Morabaha Marina Financing Co., also referred to as MRNA, introduced its intention to proceed with an preliminary public providing of its odd shares on the Saudi trade’s major market.
In keeping with an organization assertion, the Capital Market Authority permitted MRNA’s utility to register and supply 21.43 million shares, or 30 p.c of its capital, on Dec. 26.
“With each social and macroeconomic tailwinds that assist our accelerating development, that is an thrilling time to be inviting traders to share and put money into our onward journey of success,” stated Abdulrahman Mohammed Al-Ghumlas, chairman of MRNA, within the assertion.
[ad_2]
Source link
