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Saudi Stock Exchange hits two-month low on weak U. S. input, Q3 worries
- Saudi Arabia: Saturday, September 29 - 2012 at 20:02
Ahead of the third-quarter earnings season, the Riyadh-based Tadawul All-Share Index lost one percent, closing at 6,807.71 points Saturday amid a very negative market breadth. Bellwether share Sabic fell below SR90.00 (off 0.56%). Last Friday, the U. S. reported a decline in manufacturing activity, sending the Dow Jones Industrial Index and oil prices down by 0.36% and 0.18%, respectively. Shares of Saudi Arabia's Alujain Corporation, a developing and investment company in major industrial projects in the petrochemicals, mining, metals and energy sectors in the kingdom, dived 2.90% to SR16.95. Earlier in the day, Alujain said its affiliate National Petrochemical Industrial Company (NATPET) signed an Islamic Bridging Facility Agreement for SR974m with Banque Saudi Fransi (off 0.64% at SR31) and SAMBA Financial Group (down 0.67% at SR44.50). Gulf General Cooperative Insurance Company gained the most, finishing 10% higher at SR70.25.
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Gérard Al-Fil, Financial JournalistSaturday, September 29 - 2012 at 20:02 UAE local time (GMT+4)
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