GulfBase Live Support
07/12/2014 21:04 AST
Yanbu in Saudi tumbles:
Saudi’s Tadawul All Share Index ended 0.18 per cent lower at 8,941.45 led by petrochemicals and banks, post the downgrade by Standard and Poor’s. The S&P lowered the outlook for the world’s top oil exporter Saudi Arabia to stable from positive on Friday.
Yanbu National Petrochemical Co. tumbled more than 7 per cent after the company cut its cash dividend. Yanbu proposed a cash dividend of 1.5 riyals per share for the second half of 2014 last Thursday, down from 2.0 riyals a year earlier.
In terms of value, Ethihad Etisalat was the most active stock. The stock ended 0.22 per cent down at 48.90 riyals per share.
In other regional indices, the Qatar Exchange Index ended 0.84 per cent lower at 12,748.18, the Kuwait Stock Exchange Index also ended 0.39 per cent lower.
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