RIYADH: Saudi Arabia’s stock market extended gains for a third straight day on Wednesday, as strong earnings results and rising oil prices continued to drive investor sentiment. TASI closed 1.17 percent higher at a 16-year high of 12,495, with PIF-owned digital security firm Elm leading top gainers on trading debut, soaring 30 percent. Nomu, the parallel market, advanced 0.53 percent to 25,287 points. Along with the Saudi index, Dubai, Bahrain, and Kuwait recorded significant gains on Wednesday, all up between 1.2 and 1.8 percent.Abu Dhabi’s FTSE ADX general index added 0.7 percent, reaching a record high. Bourses of Qatar and Oman edged higher by 0.3 and 0.2 percent, while the Egyptian EGX30 index ended flat. In energy trading, Brent crude reached $93.73 a barrel, and US benchmark WTI traded at $92.48 a barrel as of 8:05 a.m. Saudi time. Stock news Saudi Ceramic Co. has seen its 2021 profit soar almost threefold to SR233 million ($62 million). The company will distribute cash dividends of SR59.8 million, or SR0.75 per share, for the second half of 2021 Al-Jouf Agricultural Development Co. has announced signing a SR186 million loan agreement with Agricultural Development Fund Saudi Steel Pipe Co. has turned into a net profit of SR900,000 in 2021, having erased SR34.5 million loss from a year earlier Saudia Dairy and Foodstuff Co., or SADAFCO, got its board’s approval to build a new depot in Makkah for SR27 million Anaam Holding Group has signed an initial agreement to potentially acquire private office buildings in Jeddah at SR325 millionCalendar Feb. 17, 2022 End of Tibbiyah’s IPO individual investors’ subscription End of Al Dawaa Medical Services Co. IPO book-building process Feb. 20, 2022 Advanced Petrochemical Co. to distribute dividends for the fourth quarter of 2021 at SR0.65 per share, totaling SR140.7 million Feb. 21, 2022 Bank AlJazira will distribute SR0.35 per share for the second half of the fiscal year 2021 United Wire Factories, also known as Aslak, will payout SR0.45 per share as dividends