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Arab News
8 hours ago
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 11,213
RIYADH: Saudi Arabia's Tadawul All Share Index closed lower on Monday, falling 39.31 points, or 0.35 percent, to end the day at 11,213.59. The total trading turnover on the benchmark index reached SR4.54 billion ($1.21 billion), with 60 stocks advancing and 190 declining. The MSCI Tadawul 30 Index also retreated, shedding 5.46 points, or 0.38 percent, to close at 1,436.97. The Kingdom's parallel market Nomu declined by 80.73 points, or 0.29 percent, closing at 27,356.89. Of the listed stocks, 22 advanced while 56 retreated. The best-performing stock was Alistithmar AREIC Diversified REIT Fund, with its share price rising by 9.91 percent to SR9.43. Other top performers included Saudi Industrial Investment Group, which saw its share price rise by 4.56 percent to SR17.42, and Al Hassan Ghazi Ibrahim Shaker Co., which saw a 4.48 percent increase to SR29.40. On the downside, Emaar The Economic City posted the steepest drop of the day, falling 4.12 percent to SR13.73. Naseej International Trading Co. fell 4.03 percent to SR102.50, and MBC Group Co. dropped 3.79 percent to SR34.02. On the announcements front, Jarir Marketing Co. reported estimated net profits of SR197.2 million for the first half of 2025, marking a 15.2 percent increase from the same period last year. In a statement on Tadawul, the company attributed the estimated increase to a 4.5 percent rise in gross profit, driven by higher sales of after-sales services along with improved profit margins and an increase in other income. Jarir's shares gained 1.27 percent, closing at SR12.79. Advanced Petrochemical Co. also announced its estimated financial results for the same period. The firm's net profits were estimated to reach SR82 million, up by 95.2 percent from the same period last year. The company said that the increase was driven by an 8 percent rise in net revenues, lower propane and purchased propylene prices. Advanced Petrochemical Co. also announced the completion of construction and successful operational launch of its Propane Dehydrogenation plant, capable of producing 843,000 tonnes of propylene annually, along with two PolyPropylene plants operated by Advanced Polyolefins Industry Co. with a combined capacity of 800,000 tonnes per year. The facilities, located in Jubail Industrial City, mark a significant milestone in the company's expansion in the petrochemical sector, according to a statement. APOC, a joint venture between Advanced Global Investment Co. and SK Gas Petrochemical Pte., will begin contributing to Advanced Petrochemical Co.'s consolidated financial results starting in the third quarter of 2025. Advanced Petrochemical shares closed 0.32 percent higher at SR31.48.


Arab News
22-06-2025
- Business
- Arab News
Closing Bell: Saudi main index edges down 0.34% to close at 10,574
RIYADH: Saudi Arabia's Tadawul All Share Index edged lower on Sunday, falling 36.44 points, or 0.34 percent, to close at 10,574.27. Total trading turnover reached SR3.72 billion ($991 million), with 134 stocks posting gains and 102 declining. The Kingdom's parallel market, Nomu, also recorded a slight dip, losing 27.14 points, or 0.10 percent, to settle at 26,148.69, as 34 stocks advanced and 39 retreated. Meanwhile, the MSCI Tadawul 30 Index dropped 5.34 points, or 0.39 percent, to finish at 1,361.80. Alistithmar AREIC Diversified REIT Fund was the best-performing stock of the session, with its share price rising 10 percent to SR8.25. Al Sagr Cooperative Insurance Co. followed with a 9.96 percent increase to SR12.36, while Knowledge Economic City climbed 5.36 percent to close at SR12.98. On the losing side, Retal Urban Development Co. saw the steepest decline, falling 5.10 percent to SR13.02. Flynas Co. dropped 4.13 percent to SR74.20, and Saudi Chemical Co. declined 3.85 percent to SR6.24. Shares of Hawiya Identity Auctions began trading on Nomu at SR13 per share. According to a Tadawul statement, the offering comprised 2.4 million shares, with Derayah Financial Co. acting as lead manager. Gas Arabian Services Co. announced the signing of a joint venture agreement with Italy's BONOMI Co. to establish a valve manufacturing company in the Kingdom. The new company will have a capital of SR5 million, with BONOMI holding a 60 percent stake and Gas Arabian Services owning 40 percent. The Saudi firm will fund its SR2 million share from internal resources. The deal is expected to have a long-term positive financial impact, though it remains subject to regulatory approvals and the fulfillment of conditions outlined in the agreement. Gas Arabian Services shares closed at SR15, up 0.40 percent. Mayar Holding Co. revealed that its subsidiary, NewPlast Co., has signed a two-year memorandum of understanding with Avant Sports to produce plastic chairs for sports stadiums. The chairs will be manufactured at NewPlast's Riyadh facility and will meet international and FIFA standards. The agreement supports Mayar's commitment to localizing specialized industries in line with Vision 2030 goals.


Arab News
19-06-2025
- Business
- Arab News
Closing Bell: Saudi main index rises to close at 10,610
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Thursday, gaining 19.58 points, or 0.18 percent, to close at 10,610.71. The total trading turnover of the benchmark index was SR6.4 billion ($1.7 billion), as 116 of the stocks advanced and 115 retreated. The Kingdom's parallel market Nomu lost 28.01 points, or 0.11 percent, to close at 26,175.83. This came as 35 of the listed stocks advanced while 41 retreated. The MSCI Tadawul Index lost 0.54 points, or 0.04 percent, to close at 1,367.14. The best-performing stock of the day was Alistithmar AREIC Diversified REIT Fund, whose share price surged 9.97 percent to SR7.50. Seera Group Holding also recorded strong gains, with its share price rising 7.99 percent to SR23.80, while Banan Real Estate Co. climbed 7.14 percent to close at SR4.50. Southern Province Cement Co. recorded the most significant drop, falling 5.19 percent to SR27.40. Ataa Educational Co. also saw its stock prices fall 3.43 percent to SR59.10. Leejam Sports Co. also saw its stock prices decline 3.01 percent to SR116. On the announcements front, Advance International Communications and Technology said it has completed the conversion of one of its branches into an independent limited liability company under the name Innovation Passage Technology Co. According to a statement on Tadawul, the move is part of the company's strategy to restructure its operations by separating the wholesale business sector. The new entity will take over all wholesale functions and operations. The company stated that the transformation is not expected to have a significant financial impact and that any further updates will be announced as they arise. Alujain Corp. announced that its board of directors has approved the distribution of SR51.9 million in cash dividends for the second quarter of 2025. A bourse filing revealed that the number of shares eligible for dividends is 69.2 million, with the dividend per share set at SR0.75. The dividend represents 7.5 percent of the share's par value. Alujain shares closed the session up 2.74 percent at SR35. United Cooperative Assurance Co. announced the signing of a memorandum of understanding with Arabia Insurance Cooperative Co. to evaluate a potential merger. According to a Tadawul filing, both parties will conduct technical, financial, tax, legal, and actuarial due diligence, and will enter into non-binding discussions regarding the terms and conditions of the proposed transaction. United Cooperative Assurance shares closed at SR6.70, up 0.75 percent.