Here’s what you need to know before Tadawul trading on Monday

Here’s what you need to know before Tadawul trading on Monday

RIYADH: Saudi Arabia’s stock exchange ended its five-day winning streak to close slightly lower on Sunday, tracking Friday’s drop in oil prices. TASI, the main index, edged down 0.11 percent to 11,975, while the parallel Nomu market rose 0.46 percent to 21,056. Fellow GCC bourses were mixed. Bahrain led the gainers as it added 0.7 percent, Oman and Qatar followed with a 0.6 and 0.3 percent gain, respectively, while the Kuwaiti index slipped 0.3 percent. Apart from the GCC, Egypt’s EGX30 snapped gains from a week earlier to close 0.2 percent down. Oil prices extended losses on Monday, with Brent crude falling to $102.58 a barrel and US West Texas Intermediate reaching $93.89 a barrel as of 9:20 a.m. Saudi time. United International Transportation Co. signed an initial deal to potentially acquire a 70 percent stake in Overseas Development Co.’s subsidiaries in Saudi Arabia, UAE, and Kuwait Red Sea International Co.’s shareholders approved a 50 percent capital reduction to SR302 million ($80 million) Unitholders of Taleem REIT Fund will receive a cash dividend of SR0.18 per unit for the second quarter of 2022 Ladun Investment Co. obtained SR100 million financing from Bank Albilad Saudi Ceramic Co. reported a 33 percent