Saudi Stock Value Market Exceeds $2.13 Trillion

Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) (Reuters)
Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) (Reuters)
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Saudi Stock Value Market Exceeds $2.13 Trillion

Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) (Reuters)
Investors monitor a screen displaying stock information at the Saudi Stock Exchange (Tadawul) (Reuters)

The market value of Saudi stocks exceeded $2.13 trillion dollars driven by 200 points increase in the market index, as a jump in oil prices and positive corporate earnings from the banking sector boosted the stocks.

Saudi Aramco closed at 1.3 percent at 32.35 riyals above its initial public offering price of $8.6, for the first time in 70 days.

The shares of 138 listed companies closed positively on Monday and cash liquidity jumped to levels close to $1.36 billion registering a 27-percent increase compared to Sunday.

Saudi Arabia's index surged 1.4 percent, a 96-points increase, amid active trading compared to the previous sessions.

Meanwhile, about 80 Saudi companies listed in the local market announced their financial results for Q1 of 2020, with 44 companies recording an improvement in their performance, compared to 36 companies that have seen a decline.

The remaining 100 companies are expected to announce their financial results soon, which will affect their shares during the announcement period.

Oil prices climbed on Monday, supported by output cuts and signs of gradual demand recovery amid easing coronavirus curbs and resumption of economic activity.

The booming oil markets also influenced the Saudi stock, as Brent crude jumped 6.1 percent at $34.49 a barrel, while Nimex had a 9 percent increase, exceeding $32 a barrel.

Notably, Saudi index is approaching the 7000-point barrier as traders hope that the market index will exceed this barrier before closing for Eid el-Fitr, backed by the oil prices, given that they improve or maintain the same current levels.



Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
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Saudi EXIM Bank Signs MoU with Credit Oman to Boost Bilateral Exports

The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA
The MoU was signed on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12 - SPA

CEO of Saudi EXIM Bank, Eng. Saad bin Abdulaziz AlKhalb and CEO of Credit Oman, Khalil bin Ahmed Al Harthy signed a memorandum of understanding (MoU) to promote cooperation in supporting joint projects, facilitating exports, and exchanging expertise, thereby contributing to the empowerment of non-oil exports and strengthening economic and trade ties between the two countries.

This came on the sidelines of the TXF Global 2025 conference held in Copenhagen from June 10 to 12.

EXIM participated as a sponsor of the conference to enhance the bank’s role in global trade and establish strategic partnerships to support the growth and competitiveness of Saudi non-oil exports in international markets, according to SPA.

Engineer Al-Khalb also participated in a panel session during the conference alongside a distinguished group of leaders, decision-makers, and export credit experts to discuss ways to foster international trade cooperation. He affirmed that Saudi EXIM Bank is a reliable partner in the global trade ecosystem, noting that the bank’s establishment is part of the Kingdom’s broader economic transformation.

He pointed out that the bank has provided credit facilities amounting to USD 22 billion since its inception and emphasized that the bank’s A+ credit rating from Fitch Ratings will significantly impact its operations and those of its clients and partners both locally and globally. He added that the bank’s strategy is focused on building strategic pathways for local exporters.