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

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

RIYADH: Saudi Arabia’s main stock market closed higher on Wednesday to lead the GCC, as investor sentiment was buoyed by strong earnings results. TASI the main index advanced 1 percent to 13,643, and the parallel market Nomu slipped 0.1 percent to 23,634. Dubai recorded the second-highest gains among GCC members as it added 0.6 percent. Abu Dhabi, Oman, and Kuwait’s bourses edged lower, while Qatar and Bahrain’s dropped over 1 percent each. Elsewhere in the Middle East, Egypt’s EGX30 inched 0.3 percent higher. In energy trading, Brent crude fell to $104.28 a barrel and US benchmark West Texas Intermediate traded at $101.09 a barrel as of 9:44 a.m. Saudi time. Saudi Arabian Mining Co., known as Ma’aden, saw its profits surge by 185 percent to SR2.17 billion ($580 million) last quarter Bupa Arabia’s profits before Zakat retreated by 21 percent in the first quarter to SR138 million Advanced Petrochemical Co. announced a slight drop in quarterly profit to SR164 million United Electronics Co.'s profits advanced 20 percent to reach SR97 million during the first quarter of 2022 Saudi Steel Pipe Co. said it will not distribute dividends for 2021 due to accumulated losses, even as the company turned into SR15