Complex Made Simple

Saudi market starts high, ends lower

Uncertainty prevailed during Saturday's tradin session in Riyadh, as the benchmark gauge TASI fell 0.67% to 7,013.91 points amid low trading turnover. Dr. Mohamed El-Erian, CEO of global investment firm Pimco, told CNN end of last week that he thinks a Grexit-Scenario in the Euro zone becomes more and more probable. Bellwether Sabic declined half a percentage point to SR94.50. Al Alamiya for Cooperative Insurance Company gained the most, ending 4.90% higher at SR44.80. Forty-eight out of 151 shares traded advanced, 77 securities declined and 26 ended flat. Around 285m shares were traded, valued at SR5.4bn.