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 stocks extended losses for another day on Wednesday, as oil prices continued to fall. The main TASI index fell 1 percent to 13,379 after it reached its highest level since 2006 on Monday, while the parallel market, Nomu, dropped 1.8 percent to 22,674. In line with the Saudi index, the stock exchanges of Abu Dhabi, Dubai, and Kuwait lost between 1.2 and 2.1 percent. However, Qatar, Bahrain, Oman, and Egypt bourses edged higher, led by a 1.2 percent gain for Bahrain’s BAX. In energy trading, Brent crude futures slipped $1.25, or 1.2 percent, to $106.26 a barrel by 08.00 AM Saudi time. West Texas Intermediate crude futures fell $1.24, or 1.2 percent, to $104.47 a barrel. Chemical giant Saudi Basic Industries Corp., better known as SABIC, saw a 33 percent increase in first-quarter profits, buoyed by 40-percent growth in sales to SR53 billion ($14 billion) Saudi Airlines Catering Co. swung from losses into profits amounting to SR35 million in the first quarter Food chain owner Herfy posted a profit surge of 12 percent in the first quarter due to a rise in sales of 5.5 percent Al-Dawaa Medical Services Co. reported a 10 percent increase in quarterly