Profit statements

Centrica to cap profits to reduce energy bills: report

RIYADH: Saudi Arabia’s main index gained ground in the first session of the week following higher oil prices on Friday.

TASI gained 1.01% to hit 11,953, while parallel market Nomu started rising 0.26% to 20,490 as of 10:07 a.m. KST.

Saudi oil giant Aramco climbed 1.23%, while Rabigh Refining and Petrochemical Co. rose 0.76%.

Al Rajhi, the largest valued bank in the Kingdom, edged up 1.05%, while Alinma Bank rose 1.64%.

Saudi National Bank, the country’s biggest lender, gained 1.21%, while Saudi Arabian Mining Co., known as Ma’aden, rose 2.02%.

Saudi Marketing Co. gained 5.06% to lead the gainers in early trading, while Riyad REIT Fund edged down 1.4% to lead the fallers.

Abdulmohsen Alhokair Tourism and Development Group edged up 4.78% as it entered into negotiations with its unit to acquire hotels currently leased by the group.

Among cement companies, City Cement Co., Northern Region Cement Co. and Al Jouf Cement Co. gained 4.44%, 3.83% and 3.27% respectively.

In energy trading, Brent crude futures closed Friday higher at $92.84 a barrel, while US West Texas Intermediate traded at $86.79 a barrel.