Friday , May 7 2021

Saudi stocks have the highest level in a month and global telecoms are pushing Egypt down

Saudi stocks reached their highest level in one month


Faisal / Nasser

Saudi Stock Market "Stock Market"

Since the beginning of November, many major stocks in Saudi stocks closed at a high level after strong gains, while the Egyptian stock exchange closed on heavy losses to global telecoms.

Since November 4, the Saudi index rose by 1.8% in its highest level, Al Rajhi Bank rose 2.5%, while Petrochemical firm Saudi Basic Industries Corp (CABIC) rose 2.2%.

After the Board's recommendation to distribute the annual cash dividend per share of 0.26 per share for 2018, the Al-Anma bank of Saudi Arabia had gone 6%, which was above 0.8 Revenue for 2017.

In the Saudi stock market, shares of 180 shares increased by 162, while 13 declined.

In Egypt, the benchmark index fell 1.3 percent in the general decline, in which only 30 stocks increased and the commercial international bank dropped 1.9 percent.

Global Telecom was one of the largest trading stocks and the biggest pressure on the index fell by 12.4% due to an increase of 11.18 billion pounds ($ 625.5 million) in the issue capital by the company's board by allotting 19.28 billion new shares.

Source: Reuters

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