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Saudi market losing streak halted as pressure on oil price eases

The Saudi Tadawul All-Share Index closed 0.20% higher to hit 7,371.42 points. The value of the "black gold" stabilised Tuesday at around 97 U. S. dollars per barrel (U. S. crude) Shares of Saudia Dairy & Foodstuff Company or Sadafco gained 0.44%, finishing at SR57. Earlier in the day, Sadafco announced that partial operation of the re-opened Dammam factory is expected to start July of 2012. It is planned to start the production with snacks, tomato paste, snacks and cheese. The Board of Directors decided on September 27 to re-open the factory in Dammam.