Despite the announcement of ‘Aramco’ quarterly results without expectations, a huge energy stock, supported by profit distributions, and its optimistic view of the oil question during the second half of the year, he continued the Saudi stock market index to the rise to the second session in a row. “Aramco” shares ended today’s transactions by 0.88% at 24.12 Riyals to lead the energy sector to the increase, while the general index “tassi” increased by 0.76% to 10921 points, supported by the increase in all other leadership sectors, such as banks, communication and basic material. One of the largest stocks, the shares of the “Al -Rajhi Bank”, “Al -Ahly Bank” and “Sabic”, has increased in exchange for the decline in the price of “Aqua Power”. “Aramco” announced its net profits from 22% to 85.02 billion rows in the second quarter of the year, under the pressure of low oil prices, but decided to distribute cash gain worth 80.1 billion Riyals for the period. At the same time, CEO Amin Al -Nasser said that the basics of the market are still strong, and expect oil demand to rise by more than two million barrels a day in the second half of the year compared to the first half. Mary Salem, the financial analyst of “Al Sharq”, believes that the results of the company “are not surprising but good” in light of the regional and global challenges facing, pointing out that the company’s commitment to cash distributions and its optimistic future expectations will increase the morale of the long-term investor. She said: “Strategic investors depend on the total return of the share and not just the capitalist return. The company’s share has lost about 35% of its value since the highest level was reached in 2022, but the investments have remained the same, but on the contrary, some investors have increased its investments.” The amended profits on his part, Ikrami Abdullah, the chief financial analyst in the newspaper “Al -iqtisadiah”, pointed out that the average profit announced by the company for the first time can provide a more positive overview for investors on the performance of the business. He added that “the net profit has fallen about 22%, which includes several not operational items”, but the modified profit has dropped at a lower rate and this reflects the quality of the operating performance and that the rest of the decline is the result of items such as tax, benefits and Zakat. ‘Abdullah pointed out that’ the share has already added all the negative news related to the company ‘that there are factors that support the share such as profit distributions and the company’s expectations for the growth of oil demand. Norwegian in a cash agreement worth 1.42 billion Riyals could amount to $ 50 million annually.
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