Saudi Arabian shares closed higher on Sunday, tracking a rise in oil prices as the Kingdom lifted all COVID-19 restrictions, and the conflict in Ukraine intensified.
Saudi Arabia's benchmark index ended up on a 0.4 percent rise, the highest peak recorded in July 2006, buoyed by petrochemical and energy stocks, led by the rising SABIC share reaching 1.3 percent.
Oil giant Saudi Aramco rose for a third consecutive day, closing 0.7 percent at a record high of $11.9.
A multi-bank consortium has agreed to purchase a stake in Saudi Aramco's gas pipeline valued at $13.4 billion.
A total of 19 banks were involved in the deal, led by BlackRock Real Assets and Hassana Investment Co., including HSBC, JP Morgan, BNP Paribas, Societe Generale, Citibank, and Credit Agricole.
Meanwhile, Saudi Tadawul Group posted a 17.4 percent rise in full-year net profit in 2021, fueled by the strong performance of the Saudi capital market last year.
Tadawul, which was listed in December last year, reported a net profit of $156.64 million for December, up from $134 million a year earlier.
Operating revenue increased by 8.01 percent from a year earlier, driven by solid growth in trading services, post-trade services, and listing fees, Tadawul said.
Tadawul CEO Khalid al-Hussan said new listings helped boost average daily traded value by 7.5 percent in 2021.
There were a record 15 IPOs in 2021, bringing the total issuers on the Saudi Exchange to 210 at the end of December, including nine on the primary market and six on parallel market NOMU.
In December, Tadawul said it had received 50 applications for IPOs this year and was considering whether to allow blank-cheque companies, known as SPACs, to list.
