Complex Made Simple

SABIC shares stabilise on Riyadh market

Market bellwether Saudi Basic Industries Corporation (SABIC), the world's first producer of petrochemical products in

Unlike most GCC markets which declined on Monday, October, the Saudi Arabian Tadawul All-Share Index continued to rebound and closed 1.10 per cent higher at 9,882.36 points.

Market bellwether Saudi Basic Industries Corporation (SABIC), the world’s first producer of petrochemical products in relation to output volumes, advanced by 1.66 per cent to hit SAR110.50.

National Medical Care Company (NMCC) failed to join the recovery and lost 0.57 per cent to SAR 65. Earlier in the day, NMCC said its net profit for the period from July to September fell 34.41 per cent quarter on quarter, amounting to SAR20.4 million ($5.51 million). However, year on year, the Q3 net income increased by 8.51 per cent, and the nine-month profit edged up by 16.10 per cent year on year, amounting to SAR83.7 million ($22.6 million).

Gerard Al-Fil