Saudi entertainment shares jump on easing of restrictions

The sector has been one of the worst affected by a year of restrictions which has forced restaurants, cinemas and other venues to close their doors

  
Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26,2008.

Image used for illustrative purpose. A trader monitors stocks at a Saudi Bank in Dammam October 26,2008.

REUTERS/Stringer
 
DUBAI: Saudi entertainment and retail shares gained on Sunday after the government said it would end most coronavirus-related restrictions, including resuming indoor dining and reopening cinemas, entertainment activities and events.

The sector has been one of the worst affected by a year of restrictions which has forced restaurants, cinemas and other venues to close their doors.

Entertainment giant Abdul Mohsen Al Hokair Group for Tourism and Development said all of its entertainment venues and cinema joint ventures would re-open on Sunday.

However, it said that the suspension of party and meeting halls as well as some other hotel facilities would continue until notified otherwise by the government.

The stock gained 5 percent in early trade.

Saudis will also be allowed to exercise in gyms following the relaxation of restrictions. Leejam Sports Company said it would re-open all of its facilities from Sunday.

Its stock rose 3.5 percent.

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