Introduction

Saudi Aramco’s shares gained on Sunday, the first trading day after a secondary share offering expected to raise at least $11.2 billion. The shares opened at 27.95 riyals a share, after closing the previous session on Thursday at 28.3 riyals, but climbed to 28.35 riyals by 0730 GMT. The secondary share sale’s final price was set at 27.25 riyals, towards the lower end of the given price range.

Saudi Aramco shares gain on first trading day after share offering

Saudi Aramco’s shares gained on Sunday, the first trading day after a secondary share offering expected to raise at least $11.2 billion. The shares opened at 27.95 riyals a share, after closing the previous session on Thursday at 28.3 riyals, but climbed to 28.35 riyals by 0730 GMT. The secondary share sale’s final price was set at 27.25 riyals, towards the lower end of the given price range.

Saudi Arabia places over half of Aramco share sale with foreign

Saudi Arabia placed over half of the Aramco share sale with foreign investors, two people with knowledge of the matter told Reuters on Saturday. One of them said multiple orders came from the United States, Britain, Hong Kong and Japan.

Foreign investment in Saudi Arabia has repeatedly missed targets

The world’s top oil exporter has been seeking to lure international investment to pour tens of billions of dollars into projects to diversify away from its reliance on oil. Yet foreign investment has repeatedly missed targets.

Asia shares stumble, political uncertainty rattles euro

Asian stocks sank on Monday as traders heavily pared back bets for Federal Reserve rate cuts this year given a still-tight U.S. labour market, while a snap election call in France sparked wider political concerns and weighed on the euro.

Oil nudges higher on hopes of summer fuel demand

Oil prices edged up on Monday, aided by hopes of rising fuel demand this summer, although a firmer dollar boosted by lower chances of imminent interest rate cuts capped gains.

Conclusion

Global markets were mixed on Monday, with Saudi Aramco’s shares gaining on the first trading day after a secondary share offering, while Asian shares and oil prices slipped amid political uncertainty in France and the U.S. dollar’s strength.