Tadawul Falls as Oil Declines on China Demand Concern; Sabic Retreats

31/12/2011 15:34 AST

Shares in Saudi Arabia, the world’s biggest oil exporter, fell the most in more than two weeks as crude declined on concern over demand from China and as tension simmered on Iran’s naval exercises in the Strait of Hormuz.

The Tadawul All Share Index (SASEIDX) lost as much as 0.5 percent to 6,388.88 and was trading 0.2 percent lower at 12:13 p.m. in Riyadh. Saudi Basic Industries Corp., the world’s biggest petrochemicals maker, fell 0.3 percent, while Al-Rajhi (RJHI) Bank dropped 0.4 percent.

Oil fell 0.8 percent to close at $98.83 a barrel yesterday as Chinese manufacturing contracted for a second month in December, spurring concern that demand from the world’s second- largest crude-consuming country may slow. Iran last week threatened to block the Strait of Hormuz, a shipping channel through which a sixth of the world’s is transported, if sanctions are imposed on its crude exports.

“With the lack of local news and activity in the market, some investors are booking profit and focusing on the geopolitical news in the region,” said Samer Darwiche, an equity analyst at Gulfmena Investment in Dubai. “You have also to factor in it’s new year’s eve and activity is low.”

Saudi Basic (SABIC), which accounts for 12 percent of the benchmark index, retreated to 96.75 riyals, while Al-Rajhi fell to 69.25 riyals.

Saudi Arabia’s stock exchange is the only Gulf Arab bourse open on Saturdays.


Bloomberg

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Stock Market Info

TASI 7,871.67 71.90 (0.92%)

Valuation

Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Performance
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Index vs...
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Index Chart

Top Related Companies

Ticker Price Change
SABIC 114.77 0.02 (0.01%)
STC 83.41 2.09 (2.57%)
NCB 64.98 0.35 (0.54%)
RJHI 76.03 0.78 (1.03%)
SECO 20.62 0.12 (0.58%)

Recent News

Foreign investors pile into Saudi Arabia in March amid kingdom's FTSE upgrade

05/04/2018

Foreign investors bought $1.18 billion in Middle East and North African equities in March, especially Saudi ones amid the kingdom’s upgrade to emerging market status by FTSE Russell, according to a r

The National

Muscat bourse gains lifted by activity in financial shares

05/04/2018

Buying activity in financials lifted the MSM30 Index to 4,794.61 points, up 0.41 per cent. The MSM Sharia Index closed at 676.52 points, down 0.08 per cent. Gulf Investment Services was the most acti

Times of Oman

Dubai bourse takes a hit in traded value

05/04/2018

Traded value on the Dubai Financial Market tumbled on Wednesday as global stocks declined amid an intensifying US-China trade war. In Abu Dhabi, banking shares surged ahead of first quarter results s

Gulf News

Financial blue chips drive Muscat bourse recovery

04/04/2018

Driven by financial blue chips, the MSM30 Index continued its recovery to close at 4,775.27 points, a gain of 0.53 per cent. The MSM Sharia Index ended at 677.06 points, down 0.07 per cent. HSBC Bank

Times of Oman

Emaar Properties stock hits new one-year low

04/04/2018

Emaar Properties shares extended losses for another session on Tuesday, to hit their lowest level in a year, as selling continued on the wider Dubai gauge. Emaar Properties fell to a low of Dh5.58, b

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap