Saudi Arabia’s Tadawul rises 1.38% for third straight session

Saudi Arabia’s Tadawul index rose 1.38% on Wednesday to close at 10,308.37, its third consecutive session of gains.

The index tracks shares listed on the kingdom’s main stock market.

210 listed companies advanced, while 52 declined, and trading was worth about SR4.78 billion.

Saudi Cable said regulators approved a proposed SR400 million capital increase through a rights issue, but the company’s shareholders must still approve it.

Saudi Fisheries disclosed accumulated losses of SR24.8 million, equal to 37.03% of its capital, and said it is selling assets and cutting costs as it restructures.

First Avenue’s board backed a move from the Nomu market to the main market, subject to exchange approval and regulatory requirements.