Saudi down on banking, petchem stocks
Riyadh, November 17, 2012
Saudi shares close lower on Saturday, dragged down by losses in the petrochemical and banking stocks. The all-share dropped 0.4 per cent to close at 6,793 points.
Petrochemical giant Saudi Basic Industries (Sabic) dropped 0.6 per cent. The petrochemical index shed 0.6 per cent to close at 5,752 points, while the banking index fell 0.5 per cent to end at 15,066 points.
Heavyweight Al Rajhi Bank closed at 0.7 per cent.
Earlier in the day, the shares started lower weighed by petrochemical and banking stocks. The all-share had dropped 0.6 per cent to close at 6,779.8 points and the petrochemical index dropped 0.6 per cent to hit 5,746 points.-Reuters
More Finance & Capital Market Stories
- Islamic Development Bank triples capital
- Emirates NBD launches $1bn bond
- Kuwait budget surplus may hit $52 billion
- Peru road shows target Mideast markets
- EFG Hermes Q1 net profit up 27pc
- ADCB sells $300m of subordinated bonds
- Standard Chartered’s credit card wins award
- Emirates NBD seals Dubai tower deal
- Dar Al Arkan raises $450m from sukuk sale
- Barclays advises on equities over bonds