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

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

RIYADH: Saudi stocks slid last week to end lower on Thursday as oil prices fell to seven-month lows before rebounding on Friday. TASI exited the week’s final trading session 0.3 percent lower at 11,834, while the parallel market Nomu edged down 0.4 percent to 20,438. In line with the Kingdom’s bourse, Dubai, Kuwait, and Oman lost between 0.2 and 0.7 percent. Abu Dhabi and Bahrain stock exchanges advanced 0.7 percent and 0.2 percent, respectively, while the Qatari index closed almost flat. Apart from the Gulf, the Egyptian stock market inched 0.3 percent higher. Oil prices rose about 4 percent on Friday after dropping to a seven-month low earlier in the week, supported by threatened cuts to supply. Brent crude surged to $92.84 a barrel. US West Texas Intermediate crude settled 3.9 percent higher at $86.79 a barrel. Abdulmohsen Alhokair Group for Tourism and Development entered negotiations to acquire hotels currently leased by its parent company Abdulmohsen Alhokair Holding Co. Raydan Food Co. closed one of its restaurants in Jeddah following a decision by Municipal authorities to clear some neighborhoods National Fertilizer Co. posted a 22 percent profit drop to SR9.5 million ($2.5 million) for the first half of 2022 Arabian