TASI up by 0.6% to 11,752 points: Market wrap

  • 11/4/2021
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Tadawul All Share Index closed at 11,752 points, rising by 66.57 points or 0.6 percent from yesterday’s close. A number of companies reported their results for the nine months to the end of September. Saudi Arabian Amiantit Co. made a net loss of SR147.8 million ($39.4 million). Its net losses shrank by 39.4 percent this year. This was driven by recording SR60.2 million ($16.1 million) in profits in the current period. United Cooperative Assurance Co. booked a before-zakat net loss of SR52 million ($13.9 million) for the nine month period. Net losses widened massively by 193.5 percent compared to last year as net underwriting and total investment income fell. Hail Cement Co. reported a 44.4 percent drop in its net profit for the first 9 months of this year. It fell to SR47.2 million ($12.6 million) as revenues slumped this year. Abdullah Saad Mohammed Abo Moati for Bookstores Co. saw a rise in its net profit for the same period as it rocketed by 381.3 percent, compared to the same period last year, to reach SR7.2 million ($1.8 million). The pandemic boosted its sales. AYYAN Investment Company made a net profit of SR14.3 million ($3.8 million) for the nine month period. Profits declined by 55.5 percent as general and administrative expenses, along with finance costs, went up. Alkhorayef Water and Power Technologies Co. experienced a decline of 13.8 percent in its net profit to reach SR71 million ($18.9 million). Deals and financing Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed a SR150 million ($42.4 million) Murabha agreement with Saudi EXIM Bank. Bank Aljazira announced that it will issue Tier 2 Sukuk at a value not exceeding SR2 billion ($533 million).

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