All you need to know before the trading week on Tadawul

All you need to know before the trading week on Tadawul

RIYADH: As investor sentiment was fueled by strong earnings, Saudi Arabia’s main TASI index neared 12,500 points last week for the first time since 2006. At Thursday's closing bell, TASI edged slightly lower to end at 12,476 and the parallel Nomu market was down 0.23 percent to 25,228. Shares in recently listed Elm Co. — a digital security firm owned by the Kingdom’s wealth fund — soared almost 50 percent, only two days into listing. Elsewhere in the Middle East, Bahrain’s BAX and Kuwait’s BKP added 1.4 and 0.9 percent, respectively. The Egyptian blue-chip EGX30 inched 0.3 percent lower, while indexes of Qatar and Oman closed flat. Stock markets of Abu Dhabi and Dubai retreated on Friday in line with a fall in oil prices. Brent crude reached $93.54 a barrel, and US benchmark WTI fell to $91.07 a barrel. Leading Saudi retail pharma Nahdi Medical Co. said it intends to proceed with an initial public offering of a 30 percent stake on Saudi Arabia’s main index, TASI Hospital operator Dr. Sulaiman Al Habib Group has posted a 30 percent increase in profit to SR1.37 billion ($367 million) in 2021 Al Rajhi Bank's board has recommended an increase in the