Saudi index buoyed by petrochemical shares, Halwani Bros jumps

(Reuters) – Saudi Arabia’s primary index edged larger in early trade on Monday, buoyed by petrochemical shares a day after the vitality ministry declared the discovery of four new oil and fuel fields.

Saudi Primary Industries rose .6% and Saudi Kayan Petrochemical attained .8%, supporting a .1% increase in the benchmark index.

Condition-owned Saudi Aramco edged up .1% following the announcement that it had identified oil in the Al-Ajramiyah well, northwest of the metropolis of Rafhaa, with exams demonstrating a level of 3,850 barrels for each day.

Halwani Brothers Organization jumped 9.9% to a record high of 88.9 riyals immediately after the food stuff producer and distributor proposed raising capital by a bonus share situation and distributing a 1.5 riyal-per-share dollars dividend for 2020.

The Dubai index was down .2%. Blue-chip developer Emaar Qualities lost .8% when Damac Attributes get rid of 1.5%.

DXB Entertainments was the major loser in share phrase, falling 4% to .095 dirham.

Its shares were being thanks to see their fifth consecutive day of losses since filings confirmed Meraas, which owns extra than fifty percent of the loss-making theme park team supposed to make a conditional provide to acquire the remaining shares and get it personal.

In Abu Dhabi, the index was up .2% with Emirates Telecommunications Team and Very first Abu Dhabi Lender gaining .3% and .2% respectively.

The Qatari index was buying and selling down .1%. Qatar Fuel and the telecom enterprise Ooredoo both equally fell 1%.