RIYADH: Saudi miner Amak has recorded a 22 percent profit hike for the first quarter, after making a strong debut on the Kingdom’s stock market earlier this year. Formally known as Al Masane Al Kobra Mining Co., the firm posted SR41.8 million ($11.2 million) in profit, compared to SR34 million in the same period last year, it said in a bourse filing. Its performance was
RIYADH: Saudi stocks opened with a gain for a third consecutive session on Tuesday as investors awaited the earnings results with a positive outlook. The Saudi main stock index, TASI, rose 0.13 percent to reach 12,931, while the parallel market, Nomu, gained 0.33 percent to 22,614, as of 10:07 a.m. Saudi time. Sadr Logistics Co. climbed 5.17 percent to lead the gainers, while
RIYADH: The Saudi main index fell for the second straight session on Tuesday, as investors kept a close eye on earnings results and climbing oil prices. Brent crude rose to $114.95 a barrel, and West Texas Intermediate settled at $114.77 a barrel, as of 3:14 p.m. Saudi time. The Saudi main stock index, TASI, fell 1.74 percent to reach 12,689, while the parallel market, Nomu,
RIYADH: Shares in Al Masane Al Kobra Mining Co. have jumped more than 60 percent since the firm joined the Saudi stock exchange a week ago. A series of gains pushed Amak’s shares to as high as SR102.4 ($27.3) at Tuesday’s closing bell, up from an initial public offering price of SR63 per share. The miner now holds a market valuation of SR6.8 billion, up from SR5.4 billion on