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Saudi Stock Exchange falls the fourth day straight
- Saudi Arabia: Tuesday, October 23 - 2012 at 22:23
The Tadawul All-Share Index closed Tuesday trading 0.20% lower at 6,729.48 points as oil prices dived 2.66% (U. S. crude) on an accelerated sell-off at U. S. markets. After New York-listed market heavyweights disapointed when reporting Q3 earnings, the sentiment turned bearish at the world's largest exchange. In Riyadh, shares of market bellwether Saudi Basic Industries Corp. or Sabic fell 1.13% to SR87.75. Saudi Arabian Cooperative Insurance Company gained 0.70% to hit SR72.50. Earlier in the day, the insurer said that net income before Zakat during the third quarter in 2012 was SR7.328m compared to a net income before Zakat of SR3.051m for the same quarter last year with an increase of 140.18%, and compared to a net income before Zakat of SR5.351m for the previous quarter in 2012 with an increase of 36.95%.
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Gérard Al-Fil, Financial JournalistTuesday, October 23 - 2012 at 22:23 UAE local time (GMT+4)
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