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Saudi Tadawul loses benchmark
- Saudi Arabia: Wednesday, November 12 - 2008 at 10:30
The Tadawul index broke the 5.500 benchmark after pressure from all 15 sectors with many shares falling by 10%, including Yansab and Mutagademah. A total of 119 traded shares declined, some heavily like Samba 7.7% and Al Rajhi 3.2%. All Petrochemical sector shares fell sharply including Yansab by 10%. Sabic fell by 7.1% after negative statements by the chairman in which he said that Sabic profits will fall because of the decline in demand from international markets. The telecom sector fell too including Mobily by 5.2%, Zain 2.2% and STC 2%.
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StaffWednesday, November 12 - 2008 at 10:30 UAE local time (GMT+4)
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