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Tadawul market index cracks 7,000 points
- Saudi Arabia: Saturday, January 05 - 2013 at 18:03
Lifted by higher oil prices and slightly improved U. S. employment data from Friday, the Tadawul All-Share Index gained one percent Saturday, closing at 7,010, the highest level since Sept. 22 2012. The world's largest economy added 155,000 jobs in Dec. while the jobless rate was stable at 7.8%. Oil prices (U. S. crude) gained six percent in the last four weeks. In Riyadh, Sabic (up 0,82%), Alinma Bank (0.38% higher) and Knowledge Economic City (gaining 8.71%) were the most liquid shares. Shares of ACE Cooperative Insurance Co. surged 1.28%. Earlier in the day, ACE said it has received the Saudi Arabian central bank's (SAMA) final approval on the "Workmen Compensation and Employers Liability Insurance policies". Arabian Shield Cooperative Insurance Company lost the most, finishing down 8.50%. Out of 156 traded shares, 115 advanced while 34 declined at the Tadawul bourse.
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Gérard Al-Fil, Financial JournalistSaturday, January 05 - 2013 at 18:03 UAE local time (GMT+4)
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