Shares in Savola Group, a major food retailer in Saudi Arabia, were down 2.2 percent RIYADH: Saudi Arabia’s stock market started the session higher for another day as the wave of earnings announcements continued. As of 10:16 a.m. Saudi time, the main index TASI added 0.6 percent to reach 12,345 points after wrapping up January with almost a 9 percent increase, and the parallel market Nomu opened flat at 25,582 points. Cable manufacturer United Wire Factories Co. had earlier posted a 25 percent drop in its 2021 profits but saw a 1.6 percent rise in its share price as of early trading. This was in line with gains by parent company Maadaniyah, formally known as National Metal Manufacturing and Casting Co., which was up 1.8 percent after reducing accumulated losses to 8.3 percent of capital. Shares in Savola Group, a major food retailer in Saudi Arabia, were down 2.2 percent, driven by a 75.6 percent decline in 2021 profits. In the financial sector, the Kingdom’s largest valued bank, Al Rajhi Bank, edged up by 0.5 percent, and Alinma Bank advanced by 1 percent amid trading of almost 2.3 million shares. Oil giant Aramco registered a 0.4 percent increase in its share price, hitting SR37.5 ($10). Tabuk Cement Co. topped the gainers, up 3.67 percent, while Saudi Cable Co. was the biggest loser, down 2.09 percent. In energy trading, Brent crude oil front-month contract for March delivery reached $91.2 per barrel as it expired on Monday, while US benchmark WTI crude oil rose to $88.3 per barrel as of 10:18 a.m. Saudi time.