TASI falls on weak earnings: Closing bell

Wed, 2022-11-09 16:29

RIYADH: Saudi Arabia’s main index declined on Wednesday on the back of poor earnings results from listed companies. 

The Tadawul All Share Index declined 0.69 percent to end at 11,407 while the parallel market Nomu dropped 0.11 percent to finish at 19,229. 

Saudi oil giant Aramco ended the session 1.72 percent lower, a week after announcing that its profit had surged 39 percent in the third quarter of 2022, surpassing the average of analysts’ forecasts. 

Profits at Aramco hit SR159 billion ($42 billion) after revenue soared 51 percent to SR544 billion. 

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