Saudi shares dive 5.73%
Saudi Arabia: Sunday, November 05 - 2006 at 06:23
Saudi shares plunged 5.73% Saturday as the benchmark index shed 534.86 points to close at 8,793.61, its lowest level since February 2005. This is on top of a 12% decline last week. An all-time high of 20,634.86 points was reached on 25 February 2006. Emaar the Economic City shares dropped 9.80% and market leader Sabic dropped 5.29%. Red Sea Housing, which had been criticised by some analysts for its overpriced IPO, went up 48% to SAR83 on debut.
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James McInerney, News EditorSunday, November 05 - 2006 at 06:23 UAE local time (GMT+4)
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This Article was updated on Thursday, November 09 - 2006
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