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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Saudi stocks shoot up on the back of high oil prices

In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.
By TRENDS Desk
March 9, 2022 9:46 pm
  • Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
  • Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882, while the parallel market fell 0.22 percent to 24,487.

Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel.

Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell.

Rabigh Refining and Petrochemical Co. dropped 2.08 percent, despite turning into profit of SR2 billion ($533 million) in 2021.

Saudi Co. for Hardware decreased 2.87 percent, as it turned into losses of SR28 million during 2021.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.

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