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Saudi Aramco market value exceeds $2tn for the first time since 2019

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06 Oct 2021 08:10:15 GMT9
06 Oct 2021 08:10:15 GMT9

Arab News

RIYADH: Oil giant Aramco has seen its market value once again exceed $2 trillion, as its shares rose to their highest level since the beginning of 2020.

The world’s largest oil exporter has now replaced Google to become the third largest listed company in the world, according to Al Eqtisadiah.

The Saudi company helped fuel a rise in the Kingdom’s stock market, with the Tadawul index exceeding 11,600 points for the first time in 14 years today.

Shares of 79 companies rose in the market, while 54 companies saw a decline.

The trading value amounted to SR419.2 million, after trading 9.82 million shares.

Aramco shares came at the forefront of the active shares in the market, with a 1.08 percent rise and reaching SR37.45 per share, followed by Al-Rajhi Bank shares, which rose by 1.25 percent and reached SR129.8 per share.

Aramco is seeking more than $15 billion for the share of a gas pipeline, Bloomberg reported.

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