U.S. Stocks Fall in S&P 500’s Biggest Weekly Drop in 2012


24/03/2012 09:52 AST  Bloomberg

U.S. stocks retreated this week, with the Standard & Poor’s 500 Index having its biggest decline since December, amid weaker-than-estimated housing data and reports showing manufacturing contracted in Europe and China.

Stocks rose on March 23 as a jump in oil prices lifted energy shares. The rally failed to help the industry avoid posting the worst performance for the week among the S&P 500’s 10 groups, falling 3 percent as Baker Hughes Inc. (BHI) slumped 11 percent. The Dow Jones Transportation Average lost 2.5 percent, the most since Nov. 25, as FedEx Corp. tumbled amid a disappointing earnings forecast. Apple Inc. (AAPL) advanced 1.8 percent after announcing its first dividend in 17 years.

For more on this Click Here

Global News
2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | News Archive

JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT
Most Viewed Companies
Ticker Price Volume
SPIMACO 45.86 428,866
EMAAR 10.3 11,369,691
ALKHODARI 65.92 4,110,576
RIBL 20.14 1,028,811
SABIC 115.42 6,037,734
SORAYAI 21.59 654,998
SECO 17.47 3,186,647
Recent News

Sabic-Shell scrap Jubail plant plan
Saudi Basic Industries Corporation (Sabic) and Royal Dutch Shell have shelved plans to expand an existing petrochemical joint venture in Saudi Arabia as the results of feasibility studies were not en

Petchem delegates explore sustainability challenges
GCC petrochemical companies are being urged to educate their staff to enable them to work around sustainability challenges.

Energy companies embarking on conservation efforts will benefit fr

Al-Tayyar Travel Group Q3 profit rises 13.5%
Saudi Arabia’s Al-Tayyar Travel Group posted a 13.5 percent rise in third-quarter net profit rise, slightly below analysts’ forecasts, as sales increased.

The company made a net profit of SR

Jarir proposes Q3 dividend of SR1.8 per share
Saudi Arabia’s Jarir Marketing Co. has proposed a third-quarter dividend of SR1.8 per share, the retailer said in a statement.

This is slightly above the dividend of SR1.67 per share the com

Al-Khodari may double capex to handle big projects
Major Saudi Arabian construction firm Abdullah Abdul Mohsin Al-Khodari and Sons says it may double its capital spending in coming years to cope with the work it hopes to do on the country’s big infra

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?