Saudi Press

Saudi Arabia and the world
Thursday, Jan 20, 2022

Saudi shares make positive start to 2022 despite COVID cases

Saudi shares make positive start to 2022 despite COVID cases

Saudi Arabian shares began 2022 on a positive note, in spite of a jump in cases of the Omicron coronavirus variant.

The largest Gulf state, with a population of around 30 million people, registered 1,024 new coronavirus infections and one death on Sunday.

Saudi Arabia's benchmark index (.TASI) rose 0.5%, with Al-Rajhi Bank (1120.SE) and Alinma Bank (1150.SE) gaining 1% and 3.5% respectively.

In Qatar, the benchmark (.QSI) ended flat, as gains in financial shares helped cap losses in industrial stocks. Sharia-compliant lender Masraf Al Rayan (MARK.QA) jumped 4.3%, while Industries Qatar (IQCD.QA) was down 1.4%.

Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 0.2%, as the country's lone cigarette maker fell 0.8%.

Cleopatra Hospital Group (CLHO.CA), however, gained 2.6% after MCI Capital Healthcare Partners acquired a 22.99% stake at 5.0 Egyptian pounds ($0.3193) per share, valuing the group at an equity value of 8.0 billion Egyptian pound.

The index booked a yearly gain of 10.2%.

The UAE market was closed as it shifted to a working week of four and half days with a Saturday-Sunday weekend from the start of 2022, while other markets were closed for new year holidays.

($1 = 15.6600 Egyptian pounds)


Related Articles

Saudi Press