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PIF-owned ACWA Power leads Saudi stock market with 106% YTD gain

RIYADH: Saudi Arabia’s main stock index TASI has gained 9 percent in 2022 to reach 12,310 points as of Aug. 2, led by a 106 percent surge in the shares of Public Investment Fund-owned utility provider ACWA Power. Despite ongoing geopolitical hurdles weighing on markets globally, some stocks on the index have seen double-digit jumps in their share price, according to Argaam ....

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TASI bounces back from its biggest 2022 monthly decline: Monthly Recap

RIYADH: The Saudi main index, TASI, bounced back in July following two of its worst months of 2022, fueled by continued price gains for crude. TASI ended June gaining 5.9 percent to reach 12,199 at the closing bell of Sunday’s session. This is despite a global economic downturn triggered by inflation and rising interest rates, sending worldwide shares to their lowest levels in ....

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TASI rises as investors look ahead to more earnings results: Opening bell

RIYADH: The Saudi main index rose on Tuesday with oil prices back on the rise while investors awaited more earnings results. TASI, opened 0.43 percent higher to 11,924, while the parallel market, Nomu, opened flat at 21,038 as of 10:07 a.m. Saudi time. Saudi oil giant Aramco increased 0.39 percent, while Saudi National Bank, one of the Kingdom’s biggest lenders, added 0.73 ....

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