According to Arab News’ article published on October 24, 2022, Saudi Arabia’s main index finished higher again on the back of stronger earnings results and a spike in oil prices.
The Tadawul All Share Index rose 0.57 percent to end at 12,075, while the parallel market Nomu shed 1.12 percent to finish at 19,780.
Saudi oil giant Aramco ended the session flat, while Rabigh Refining and Petrochemical Co. decreased 2.05 percent.
Saudi National Bank, the Kingdom’s largest lender, ended flat, a day after it announced a 42 percent surge in profit to SR14 billion ($3.8 billion).
The Kingdom’s most valuable bank, Al Rajhi, increased by 0.69 percent, after posting a 19 percent rise in profit to SR13 billion in the first nine months of 2022.
Riyad Bank added 1.84 percent, after its profit soared by 13 percent to SR5 billion in the first nine months of 2022.
Hospital operator Dr. Sulaiman Al Habib Group gained 1.39 percent, after it recorded a 22 percent increase in profit for the first nine months of 2022.
Middle East Paper Co. declined 0.55, after it invited its shareholders to vote on a 33 percent capital raise to SR666 million.
Saudia Dairy and Foodstuff Co. gained 9.95 percent to lead the gainers, after it reported a 55 percent profit increase in the first nine months of 2022 to SR142 million.
Saudi Kayan Petrochemical Co. shed 3.77 percent to lead the fallers, after it turned into losses of SR453 million in the first nine months of 2022.
