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Energy shares fuel Tadawul advances
- Saudi Arabia: Saturday, September 12 - 2009 at 17:39
The Saudi Arabian Tadawul All Share Index (Tasi) closed 1.28% higher at 5,786.05 on Saturday, propelled by comments from US Secretary of Treasury Tim Geithner that the US economy has found its bottom and that business activity could pick up without further liquidity injections. The energy and utilities sector posted the largest advance (gaining 3.69%), despite oil prices declining by 3.82% to $69.12 per barrel. Saudi Electricity, one of the most volatile stocks in the Tasi universe, outperformed its benchmark and closed at SR9.95 (up 4.19%). Volumes picked up and 118 shares advanced while only 10 stocks declined in Riyadh.
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Gérard Al-Fil, Financial JournalistSaturday, September 12 - 2009 at 17:39 UAE local time (GMT+4)
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This article was updated on Sun Sep 13 2009.
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