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Hittade denna lank pa Arab News. Informationen verkar vara ca 3 timmar gammal, alt. att marknaderna stanger vid 12.00.
Look beyond what you see!
Hittade denna lank pa Arab News. Informationen verkar vara ca 3 timmar gammal, alt. att marknaderna stanger vid 12.00.
Look beyond what you see!
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Saudi Stock Index Gains 37.63 Points
Khalil Hanware, Arab News
JEDDAH, 29 August 2005 ? The Saudi stock market recovered slightly as the Tadawul All Share Index (TASI) closed 37.63 points higher yesterday at 14,854.82. Though the market is fluctuating, analysts say the index is likely to break the 15,000 barrier within a couple of weeks as oil prices also hit record highs.
The Industrial, Banking and Cement indices were higher while other indices declined. The Industrial index was higher 401.70 points at 39,162.07 while the Banking index gained 38.61 points at 32,506.13. The Cement index was marginally higher at 8,988.56, up 1.58 points.
Saudi Basic Industries Corp. (SABIC) stock gained 1.53 percent to close at SR1,639.75. Out of 77 stocks traded, 47 were lower while only 30 were higher.
In the banking sector, shares of the Saudi British Bank (SABB), Arab National Bank (ANB), Samba Financial Group and Bank Albilad were trading lower at SR1,286, SR931, SR885 and SR743 respectively. However, Al-Rajhi Banking and Investment Corp. (ARABIC) shares were trading slightly higher at SR1,772.
The Telecom index declined slightly at 5,837.46 as Saudi Telecom Co. (STC) share closed higher at SR978.25 while Etihad Etisalat stock was trading 1.36 percent lower at SR654.
Abdul Kareem Al-Zamil, an investor in stocks, attributed the drop of index to the fear of most dealers about an imminent sharp fall of the index in the coming days. He said many people opted for Saudi Electricity Company (SEC) stocks in an apparent move to make quick profits from hectic trading. SEC stock closed 3.12 percent lower yesterday at SR132.
He said despite Saturday?s fall, many dealers still believe that the index would cross 15,000 points shortly. He hoped that the market could retain its strength within two days as there are a lot of positive factors. He urged Capital Market Authority to force companies not to leak secret information on their financial situation.
Meanwhile, the CMA warned individuals and firms against collecting funds to invest in bonds, setting up investment funds or promoting stocks, bonds and other financial papers, or carrying out any brokerage or financial consultancy service without receiving proper license from the authority. In an advertisement published in local papers, the authority advised the public not to invest in unlicensed financial firms. The CMA said it would punish firms engaged in above activities without license.
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